Wall Street Zen Upgrades Aduro Clean Technologies (NASDAQ:ADUR) to “Sell”

Aduro Clean Technologies (NASDAQ:ADUR) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently issued reports on ADUR. Roth Capital began coverage on Aduro Clean Technologies in a research note on Monday, July 27th. They set a “buy” rating and a $30.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Aduro Clean Technologies in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target on shares of Aduro Clean Technologies in a research note on Wednesday, September 23rd. Finally, Zacks Research cut shares of Aduro Clean Technologies from a “hold” rating to a “strong sell” rating in a report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.25.

Aduro Clean Technologies Price Performance

ADUR opened at $9.94 on Friday. The stock’s 50 day simple moving average is $13.29 and its 200 day simple moving average is $13.64. Aduro Clean Technologies has a 1 year low of $9.00 and a 1 year high of $18.19. The firm has a market cap of $350.98 million, a price-to-earnings ratio of -22.09 and a beta of 3.28.

Aduro Clean Technologies (NASDAQ:ADUR) last announced its quarterly earnings results on Thursday, October 15th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. As a group, sell-side analysts anticipate that Aduro Clean Technologies will post -0.40 EPS for the current year.

Hedge Funds Weigh In On Aduro Clean Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Guardian Wealth Advisors LLC NC bought a new position in Aduro Clean Technologies in the second quarter worth about $630,000. NewEdge Advisors LLC boosted its position in Aduro Clean Technologies by 18.3% during the 2nd 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 in the last quarter. DGS Capital Management LLC boosted its position in Aduro Clean Technologies by 67.4% during the 4th quarter. DGS Capital Management LLC now owns 37,966 shares of the company’s stock valued at $393,000 after acquiring an additional 15,285 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Aduro Clean Technologies during the 2nd quarter worth approximately $215,000. Finally, Bank of America Corp DE bought a new position in shares of Aduro Clean Technologies in the 1st quarter worth approximately $123,000.

About Aduro Clean Technologies

Aduro Clean Technologies Inc (NASDAQ: ADUR) is a Canadian technology company developing chemical recycling and resource-upgrading solutions. Its proprietary Hydrochemolytic™ technology uses water, catalysts and controlled process conditions to convert difficult-to-process feedstocks into higher-value products.

The company’s platform is designed for applications including the conversion of plastic waste into reusable hydrocarbon feedstocks, the upgrading of renewable oils into lower-carbon fuels and chemicals, and the treatment of heavy oil and bitumen.