Aduro Clean Technologies (NASDAQ:ADUR) Shares 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.

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

Analyst Ratings Changes

Separately, D. Boral Capital cut their price target on Aduro Clean Technologies from $50.00 to $48.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Aduro Clean Technologies has an average rating of "Buy" and an average price target of $48.00.

Aduro Clean Technologies Price Performance

The stock has a fifty day moving average price of $10.58 and a two-hundred day moving average price of $7.47. The company has a market cap of $318.87 million and a P/E ratio of -41.64.

Institutional Investors Weigh In On Aduro Clean Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Simplex Trading LLC bought a new stake in Aduro Clean Technologies during the second quarter worth approximately $40,000. Raymond James Financial Inc. bought a new stake in Aduro Clean Technologies during the second quarter worth approximately $44,000. Citadel Advisors LLC bought a new stake in Aduro Clean Technologies during the fourth quarter worth approximately $139,000. Geode Capital Management LLC bought a new stake in Aduro Clean Technologies during the second quarter worth approximately $172,000. Finally, NewEdge Advisors LLC raised its holdings in Aduro Clean Technologies by 21,000.0% during the second quarter. NewEdge Advisors LLC now owns 21,100 shares of the company's stock worth $189,000 after purchasing an additional 21,000 shares in the last quarter.

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.

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