Aduro Clean Technologies Inc. (NASDAQ:ADUR) Stock Has Consensus Price Target of $29.25 According to Brokerages

Shares of Aduro Clean Technologies Inc. (NASDAQ:ADUR) have received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $29.25.

ADUR has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Aduro Clean Technologies in a report on Thursday, October 15th. Wall Street Zen raised shares of Aduro Clean Technologies from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 17th. Zacks Research cut shares of Aduro Clean Technologies from a “hold” rating to a “strong sell” rating in a report on Friday, September 25th. Roth Capital assumed coverage on shares of Aduro Clean Technologies in a research report on Monday, July 27th. They set a “buy” rating and a $30.00 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $22.00 target price on shares of Aduro Clean Technologies in a research report on Wednesday, September 23rd.

Aduro Clean Technologies Stock Performance

Shares of ADUR opened at $10.16 on Friday. The firm has a market cap of $358.78 million, a PE ratio of -22.58 and a beta of 3.39. The firm’s 50 day moving average price is $11.33 and its 200 day moving average price is $12.79. Aduro Clean Technologies has a twelve month low of $8.87 and a twelve month high of $18.19.

Aduro Clean Technologies (NASDAQ:ADUR) last posted its earnings results on Thursday, October 15th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. On average, sell-side analysts anticipate that Aduro Clean Technologies will post -0.42 earnings per share for the current fiscal year.

Institutional Trading of Aduro Clean Technologies

Several large investors have recently made changes to their positions in ADUR. Guardian Wealth Advisors LLC NC acquired a new position in shares of Aduro Clean Technologies during the 2nd quarter valued at about $630,000. NewEdge Advisors LLC lifted its holdings in Aduro Clean Technologies by 18.3% in the 2nd quarter. NewEdge Advisors LLC now owns 38,332 shares of the company’s stock worth $604,000 after purchasing an additional 5,916 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Aduro Clean Technologies in the 2nd quarter worth approximately $215,000. Finally, Bank of America Corp DE acquired a new stake in Aduro Clean Technologies in the 1st quarter worth approximately $123,000.

About Aduro Clean Technologies

Aduro Clean Technologies Inc. is a Canadian clean-technology company developing chemical conversion processes for difficult-to-recycle materials. Its Hydrochemolytic™ technology uses water-based chemistry to process feedstocks under relatively mild conditions. The company’s applications include converting waste plastics into feedstocks for new materials, upgrading heavy oils and bitumen into lighter products, and processing renewable oils. Aduro is focused on developing and commercializing these technologies for industrial use.