Aduro Clean Technologies (NASDAQ:ADUR) Stock Price Up 7.3% – Time to Buy?

Shares of Aduro Clean Technologies Inc. (NASDAQ:ADUR) traded up 7.3% during trading on Thursday . The stock traded as high as $16.58 and last traded at $16.44. 210,341 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 450,901 shares. The stock had previously closed at $15.32.

Analyst Ratings Changes

ADUR has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aduro Clean Technologies in a report on Friday, July 17th. Wall Street Zen raised Aduro Clean Technologies from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 31st. Roth Capital assumed coverage on Aduro Clean Technologies in a research note on Monday, July 27th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, LADENBURG THALM/SH SH raised Aduro Clean Technologies to a “strong-buy” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $29.25.

Aduro Clean Technologies Stock Performance

The company has a market capitalization of $578.38 million, a PE ratio of -37.23 and a beta of 3.27. The stock’s 50 day moving average is $14.80 and its 200 day moving average is $13.09.

Institutional Investors Weigh In On Aduro Clean Technologies

Institutional investors have recently made changes to their positions in the stock. Longview Financial Advisors Inc. bought a new position in shares of Aduro Clean Technologies in the first quarter worth $28,000. Wells Fargo & Company MN raised its stake in shares of Aduro Clean Technologies by 800.0% during the 4th quarter. Wells Fargo & Company MN now owns 2,700 shares of the company’s stock valued at $28,000 after purchasing an additional 2,400 shares during the period. Raymond James Financial Inc. purchased a new stake in Aduro Clean Technologies during the 2nd quarter worth about $44,000. Virtu Financial LLC purchased a new stake in Aduro Clean Technologies during the 4th quarter worth about $112,000. Finally, Bank of America Corp DE bought a new position in Aduro Clean Technologies in the 1st quarter worth about $123,000.

Aduro Clean Technologies Company Profile

Aduro Clean Technologies, Inc is a development?stage clean energy company that designs, develops and seeks to commercialize modular process systems for the production and purification of hydrogen. Listed on the Nasdaq under the ticker ADUR, the company focuses on low?emission solutions to support the emerging hydrogen economy, including renewable fuel applications, energy storage and industrial gas supply. Aduro Clean Technologies aims to address the growing demand for high?purity hydrogen across mobility, power generation and chemical processing sectors.

The company’s core technologies include its H2-Conductor platform, a membrane?based system engineered to separate and purify hydrogen from mixed gas streams, and its H2-Integrate suite of modular reactors capable of producing hydrogen from various feedstocks.