Aduro Clean Technologies (NASDAQ:ADUR) Announces Earnings Results, Misses Expectations By $0.18 EPS

Aduro Clean Technologies (NASDAQ:ADUR) issued its earnings results on Monday. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.18), Zacks reports. Aduro Clean Technologies had a negative return on equity of 85.29% and a negative net margin of 6,393.09%.

Aduro Clean Technologies Price Performance

ADUR traded down $0.35 during trading on Monday, hitting $13.82. 557,871 shares of the stock traded hands, compared to its average volume of 451,131. The firm has a market capitalization of $487.98 million, a P/E ratio of -31.41 and a beta of 3.27. The firm has a 50-day moving average of $14.94 and a 200 day moving average of $13.32. Aduro Clean Technologies has a 12-month low of $9.00 and a 12-month high of $18.19.

Hedge Funds Weigh In On Aduro Clean Technologies

A number of hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in shares of Aduro Clean Technologies by 800.0% during the fourth quarter. Wells Fargo & Company MN now owns 2,700 shares of the company’s stock worth $28,000 after purchasing an additional 2,400 shares during the period. Raymond James Financial Inc. bought a new position in Aduro Clean Technologies during the 2nd quarter valued at approximately $44,000. Virtu Financial LLC bought a new position in Aduro Clean Technologies during the 4th quarter valued at approximately $112,000. Boothbay Fund Management LLC purchased a new stake in Aduro Clean Technologies in the 3rd quarter worth approximately $164,000. Finally, Engineers Gate Manager LP purchased a new stake in Aduro Clean Technologies in the 4th quarter worth approximately $159,000.

Analysts Set New Price Targets

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

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.