Aduro Clean Technologies (NASDAQ:ADUR) Stock Rating Reaffirmed as “Buy” by HC Wainwright

Aduro Clean Technologies (NASDAQ:ADUR)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research note issued on Wednesday, September 23rd, Benzinga reports. They currently have a $22.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 75.56% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Aduro Clean Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Aduro Clean Technologies in a research note on Friday, July 17th. Finally, Roth Capital initiated coverage on shares of Aduro Clean Technologies in a research note on Monday, July 27th. They issued a “buy” rating and a $30.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Aduro Clean Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $29.25.

Aduro Clean Technologies Trading Up 2.3%

ADUR traded up $0.28 on Wednesday, hitting $12.53. 145,350 shares of the company’s stock were exchanged, compared to its average volume of 430,650. The firm has a market cap of $442.47 million, a PE ratio of -20.20 and a beta of 3.22. Aduro Clean Technologies has a twelve month low of $9.00 and a twelve month high of $18.19. The stock has a fifty day moving average of $14.07 and a two-hundred day moving average of $13.62.

Aduro Clean Technologies (NASDAQ:ADUR) last released its quarterly earnings data 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). On average, analysts predict that Aduro Clean Technologies will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Empery Asset Management LP bought a new position in shares of Aduro Clean Technologies in the fourth quarter valued at approximately $5,916,000. Guardian Wealth Advisors LLC NC bought a new position in shares of Aduro Clean Technologies in the second quarter valued at approximately $630,000. NewEdge Advisors LLC lifted its stake in Aduro Clean Technologies by 18.3% during 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 last quarter. DGS Capital Management LLC boosted its holdings in Aduro Clean Technologies by 67.4% during the fourth quarter. DGS Capital Management LLC now owns 37,966 shares of the company’s stock worth $393,000 after buying an additional 15,285 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Aduro Clean Technologies in the second quarter worth approximately $215,000.

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.