Aduro Clean Technologies (NASDAQ:ADUR) Earns “Buy” Rating from HC Wainwright

Aduro Clean Technologies (NASDAQ:ADUR)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $22.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 70.28% from the stock’s previous close.

ADUR has been the subject of several other research reports. Wall Street Zen cut shares of Aduro Clean Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 5th. 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 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aduro Clean Technologies in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.25.

Aduro Clean Technologies Price Performance

Shares of NASDAQ ADUR traded up $0.25 during midday trading on Wednesday, reaching $12.92. 138,903 shares of the stock were exchanged, compared to its average volume of 436,296. The business has a 50-day simple moving average of $14.17 and a two-hundred day simple moving average of $13.57. The company has a market capitalization of $456.21 million, a price-to-earnings ratio of -20.78 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.

Aduro Clean Technologies (NASDAQ:ADUR) last announced its earnings results on Monday, August 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.19). Equities research analysts expect that Aduro Clean Technologies will post -0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aduro Clean Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. 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. Squarepoint Ops LLC acquired a new stake in shares of Aduro Clean Technologies during the second quarter worth $215,000. Guardian Wealth Advisors LLC NC acquired a new stake in shares of Aduro Clean Technologies during the second quarter worth $630,000. Bank of America Corp DE bought a new position in shares of Aduro Clean Technologies in the 1st quarter worth about $123,000. Finally, Longview Financial Advisors Inc. acquired a new position in shares of Aduro Clean Technologies in the 1st quarter valued at about $28,000.

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.