Aduro Clean Technologies (NASDAQ:ADUR) Trading 8.9% Higher - Here's What Happened

Key Points

• Aduro Clean Technologies' shares surged 8.9% during trading, reaching a high of $17.18 and closing at $16.95, with a notable volume increase to 274,982 shares compared to the average of 259,366.
• Analysts are divided on the stock, with Weiss Ratings maintaining a "sell (d-)" rating, while D. Boral Capital issued a "buy" rating and a price target of $48.00, leading to a consensus rating of "Hold".
• Aduro Clean Technologies, based in Ontario, focuses on **patented water-based technologies** for recycling waste plastics and producing more valuable fuels from heavy crude and bitumen.

Shares of Aduro Clean Technologies Inc. (NASDAQ:ADUR - Get Free Report) traded up 8.9% during trading on Wednesday . The company traded as high as $17.18 and last traded at $16.95. 274,982 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 259,366 shares. The stock had previously closed at $15.56.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aduro Clean Technologies in a research note on Wednesday. D. Boral Capital reaffirmed a "buy" rating and issued a $48.00 price target on shares of Aduro Clean Technologies in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $48.00.

Aduro Clean Technologies Trading Up 8.9%

The business has a 50 day moving average of $12.31 and a 200-day moving average of $9.25. The firm has a market capitalization of $519.18 million and a P/E ratio of -52.97.

Institutional Trading of Aduro Clean Technologies

A number of large investors have recently bought and sold shares of the business. Diametric Capital LP bought a new stake in Aduro Clean Technologies during the 2nd quarter worth approximately $345,000. Copperleaf Capital LLC bought a new position in shares of Aduro Clean Technologies during the 2nd quarter worth approximately $233,000. NewEdge Advisors LLC grew its stake in shares of Aduro Clean Technologies by 21,000.0% during the 2nd quarter. NewEdge Advisors LLC now owns 21,100 shares of the company's stock worth $189,000 after acquiring an additional 21,000 shares in the last quarter. Geode Capital Management LLC bought a new position in shares of Aduro Clean Technologies during the 2nd quarter worth approximately $172,000. Finally, Raymond James Financial Inc. bought a new position in shares of Aduro Clean Technologies during the 2nd quarter worth approximately $44,000.

About Aduro Clean Technologies

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.