Aduro Clean Technologies Inc. (NASDAQ:ADUR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Aduro Clean Technologies Inc. (NASDAQ:ADUR) have earned an average rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $29.25.

Several equities analysts have issued reports on ADUR shares. Wall Street Zen downgraded Aduro Clean Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 5th. Roth Capital began coverage on Aduro Clean Technologies in a research note on Monday, July 27th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aduro Clean Technologies in a report on Friday, July 17th.

Aduro Clean Technologies Trading Down 1.8%

NASDAQ:ADUR opened at $12.27 on Thursday. Aduro Clean Technologies has a 1 year low of $9.00 and a 1 year high of $18.19. The firm has a 50 day moving average of $14.44 and a 200-day moving average of $13.52. The stock has a market capitalization of $433.25 million, a P/E ratio of -19.79 and a beta of 3.22.

Aduro Clean Technologies (NASDAQ:ADUR) last announced its earnings results on Monday, August 31st. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.19). As a group, analysts forecast that Aduro Clean Technologies will post -0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Aduro Clean Technologies

A number of hedge funds have recently added to or reduced their stakes in ADUR. Longview Financial Advisors Inc. bought a new stake in Aduro Clean Technologies during the 1st quarter worth about $28,000. Bank of America Corp DE bought a new position in shares of Aduro Clean Technologies in the first quarter worth about $123,000. Squarepoint Ops LLC bought a new position in shares of Aduro Clean Technologies in the second quarter worth about $215,000. DGS Capital Management LLC lifted its position in shares of Aduro Clean Technologies by 67.4% during the fourth quarter. DGS Capital Management LLC now owns 37,966 shares of the company’s stock worth $393,000 after purchasing an additional 15,285 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Aduro Clean Technologies by 18.3% during the second quarter. NewEdge Advisors LLC now owns 38,332 shares of the company’s stock worth $604,000 after purchasing an additional 5,916 shares in the last quarter.

About Aduro Clean Technologies

Aduro Clean Technologies Inc is a Canadian clean-technology company developing chemical recycling and resource-conversion solutions. Its proprietary Hydrochemolytic™ Technology platform is designed to use water, catalysts and relatively moderate operating conditions to transform difficult-to-recycle materials into higher-value chemical feedstocks.

The company’s primary focus is the conversion of post-consumer and post-industrial plastic waste into feedstocks that can be used to produce new plastics and other chemicals.