Aduro Clean Technologies (NASDAQ:ADUR) Stock Price Down 4.8% - Time to Sell?

Key Points

• Aduro Clean Technologies (NASDAQ:ADUR) shares fell 4.8% on Wednesday, trading as low as $10.01 before closing at $10.41.
• D. Boral Capital reduced its price target for Aduro Clean Technologies from $50.00 to $48.00 while maintaining a "buy" rating.
• Institutional investors have shown interest, with significant purchases made, including a remarkable increase in holdings by NewEdge Advisors LLC of 21,000.0% during the second quarter.

Shares of Aduro Clean Technologies Inc. (NASDAQ:ADUR - Get Free Report) were down 4.8% during trading on Wednesday . The stock traded as low as $10.01 and last traded at $10.41. Approximately 217,662 shares were traded during mid-day trading, a decline of 11% from the average daily volume of 245,628 shares. The stock had previously closed at $10.93.

Analysts Set New Price Targets

Separately, D. Boral Capital reiterated a "buy" rating and issued a $48.00 target price on shares of Aduro Clean Technologies in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $48.00.

Aduro Clean Technologies Trading Up 9.4%

The stock's fifty day moving average is $10.77 and its 200 day moving average is $7.62. The company has a market capitalization of $366.33 million and a P/E ratio of -47.84.

Institutional Trading of Aduro Clean Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Simplex Trading LLC purchased a new stake in shares of Aduro Clean Technologies in the 2nd quarter worth about $40,000. Raymond James Financial Inc. purchased a new stake in Aduro Clean Technologies during the 2nd quarter valued at about $44,000. Geode Capital Management LLC purchased a new stake in Aduro Clean Technologies during the 2nd quarter valued at about $172,000. NewEdge Advisors LLC grew its position in Aduro Clean Technologies by 21,000.0% during the 2nd quarter. NewEdge Advisors LLC now owns 21,100 shares of the company's stock valued at $189,000 after purchasing an additional 21,000 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in Aduro Clean Technologies during the 4th quarter valued at about $139,000.

Aduro Clean Technologies Company Profile

Aduro Clean Technologies is a developer of patented water-based technologies to chemically recycle waste plastics; convert heavy crude and bitumen into lighter, more valuable oil and transform renewable oils into higher-value fuels or renewable chemicals. Aduro Clean Technologies is based in LONDON, Ontario.