Aduro Clean Technologies Inc. (NASDAQ:ADUR) Receives Average Rating of “Moderate Buy” from Analysts

Aduro Clean Technologies Inc. (NASDAQ:ADUR) has earned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $29.25.

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

Aduro Clean Technologies Price Performance

Shares of Aduro Clean Technologies stock opened at $12.61 on Thursday. The stock has a market capitalization of $445.26 million, a price-to-earnings ratio of -20.34 and a beta of 3.22. Aduro Clean Technologies has a 12 month low of $9.00 and a 12 month high of $18.19. The firm’s fifty day simple moving average is $14.24 and its 200-day simple moving average is $13.56.

Aduro Clean Technologies (NASDAQ:ADUR) last announced its earnings results on Monday, August 31st. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.19). Analysts anticipate that Aduro Clean Technologies will post -0.36 earnings per share for the current year.

Hedge Funds Weigh In On Aduro Clean Technologies

Large investors have recently modified their holdings of the business. Longview Financial Advisors Inc. purchased a new stake in shares of Aduro Clean Technologies in the first quarter valued at approximately $28,000. Bank of America Corp DE acquired a new position in Aduro Clean Technologies during the first quarter worth $123,000. Squarepoint Ops LLC purchased a new position in Aduro Clean Technologies in the second quarter worth $215,000. DGS Capital Management LLC raised its position in Aduro Clean Technologies by 67.4% in the fourth quarter. DGS Capital Management LLC now owns 37,966 shares of the company’s stock worth $393,000 after acquiring an additional 15,285 shares in the last quarter. Finally, NewEdge Advisors LLC lifted 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 acquiring an additional 5,916 shares during the period.

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.