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

Aduro Clean Technologies Inc. (NASDAQ:ADUR) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $29.25.

ADUR has been the subject of a number of research analyst reports. Zacks Research cut Aduro Clean Technologies from a “hold” rating to a “strong sell” rating in a report on Friday, September 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aduro Clean Technologies in a report on Thursday, October 15th. 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 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of Aduro Clean Technologies in a research note on Wednesday, September 23rd. Finally, Wall Street Zen upgraded shares of Aduro Clean Technologies from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 17th.

Institutional Investors Weigh In On Aduro Clean Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Guardian Wealth Advisors LLC NC acquired a new position in shares of Aduro Clean Technologies during the second quarter worth $630,000. NewEdge Advisors LLC increased its holdings in Aduro Clean Technologies by 18.3% in the second quarter. NewEdge Advisors LLC now owns 38,332 shares of the company’s stock valued at $604,000 after purchasing an additional 5,916 shares during the period. Squarepoint Ops LLC acquired a new position in Aduro Clean Technologies during the 2nd quarter worth about $215,000. Finally, Bank of America Corp DE acquired a new position in Aduro Clean Technologies during the 1st quarter worth about $123,000.

Aduro Clean Technologies Trading Down 7.8%

Shares of ADUR opened at $9.10 on Friday. The stock has a market capitalization of $321.32 million, a PE ratio of -20.22 and a beta of 3.39. The firm’s 50 day moving average is $11.69 and its 200-day moving average is $12.87. Aduro Clean Technologies has a 12 month low of $8.87 and a 12 month high of $18.19.

Aduro Clean Technologies (NASDAQ:ADUR) last posted its quarterly earnings data on Thursday, October 15th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Equities research analysts predict that Aduro Clean Technologies will post -0.42 earnings per share for the current fiscal year.

Aduro Clean Technologies Company Profile

Aduro Clean Technologies Inc is a Canadian clean technology company focused on converting difficult-to-recycle materials into higher-value chemical feedstocks. Its platform is designed to address waste plastics, renewable oils and heavy petroleum resources, including bitumen, with the goal of supporting more circular and lower-carbon industrial processes.

The company’s core technology, known as Hydrochemolytic™ technology, uses water, hydrogen and proprietary catalysts to break down challenging hydrocarbon-based materials under comparatively mild operating conditions.