Aduro Clean Technologies’ (ADUR) Buy Rating Reaffirmed at HC Wainwright

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

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aduro Clean Technologies in a research note on Friday, July 17th. Roth Capital initiated coverage on Aduro Clean Technologies in a research note on Monday, July 27th. They set a “buy” rating and a $30.00 target price for the company. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Aduro Clean Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $29.25.

Aduro Clean Technologies Stock Up 2.0%

NASDAQ ADUR traded up $0.25 on Wednesday, hitting $12.92. 138,903 shares of the stock were exchanged, compared to its average volume of 436,296. The company has a 50-day moving average price of $14.17 and a 200-day moving average price of $13.57. The company has a market cap of $456.21 million, a PE ratio of -20.78 and a beta of 3.22. Aduro Clean Technologies has a fifty-two week low of $9.00 and a fifty-two week high of $18.19.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Longview Financial Advisors Inc. bought a new stake in shares of Aduro Clean Technologies in the 1st quarter valued at approximately $28,000. NewEdge Advisors LLC boosted its stake in Aduro Clean Technologies by 18.3% in the 2nd quarter. NewEdge Advisors LLC now owns 38,332 shares of the company’s stock valued at $604,000 after buying an additional 5,916 shares in the last quarter. Bank of America Corp DE acquired a new position in Aduro Clean Technologies during the first quarter worth $123,000. Squarepoint Ops LLC acquired a new position in Aduro Clean Technologies during the second quarter worth $215,000. Finally, DGS Capital Management LLC boosted its stake in shares of Aduro Clean Technologies by 67.4% in the 4th quarter. DGS Capital Management LLC now owns 37,966 shares of the company’s stock valued at $393,000 after purchasing an additional 15,285 shares in the last quarter.

Aduro Clean Technologies Company Profile

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.