HC Wainwright Reiterates "Buy" Rating for Aduro Clean Technologies (NASDAQ:ADUR)

Key Points

• HC Wainwright reiterated its “Buy” rating on Aduro Clean Technologies and set a $22 price target, implying 75.16% upside from the prior close. The broader analyst consensus is “Moderate Buy,” with a $29.25 target.
• ADUR shares fell 0.9% to $12.56, while the company reported a quarterly loss of $0.27 per share—$0.19 worse than analysts expected. Analysts forecast a full-year loss of $0.40 per share.
• Institutional investors have increased exposure to Aduro, including new stakes from Empery Asset Management and Guardian Wealth Advisors and larger holdings from NewEdge Advisors and DGS Capital Management.

Aduro Clean Technologies (NASDAQ:ADUR - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They currently have a $22.00 target price on the stock. HC Wainwright's price target indicates a potential upside of 75.16% from the company's previous close.

Several other brokerages have also recently weighed in on ADUR. Roth Capital started 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 objective on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Aduro Clean Technologies in a research note on Friday, July 17th. Finally, Wall Street Zen cut shares of Aduro Clean Technologies from a "sell" rating to a "strong sell" rating in a research note on Saturday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Aduro Clean Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.25.

Aduro Clean Technologies Trading Down 0.9%

ADUR traded down $0.12 during trading on Wednesday, reaching $12.56. 207,937 shares of the company's stock were exchanged, compared to its average volume of 435,685. Aduro Clean Technologies has a one year low of $9.00 and a one year high of $18.19. The firm has a fifty day moving average price of $14.15 and a two-hundred day moving average price of $13.58. The stock has a market capitalization of $443.49 million, a PE ratio of -20.26 and a beta of 3.22.

Aduro Clean Technologies (NASDAQ:ADUR - Get Free Report) last issued its quarterly earnings results on Monday, August 31st. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.19). Sell-side analysts expect that Aduro Clean Technologies will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On Aduro Clean Technologies

Institutional investors have recently modified their holdings of the company. Empery Asset Management LP bought a new stake in shares of Aduro Clean Technologies in the 4th quarter valued at $5,916,000. Guardian Wealth Advisors LLC NC bought a new stake in shares of Aduro Clean Technologies in the 2nd quarter valued at $630,000. NewEdge Advisors LLC boosted its stake in shares of Aduro Clean Technologies by 18.3% in the 2nd 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 stake in shares of Aduro Clean Technologies by 67.4% in the 4th quarter. DGS Capital Management LLC now owns 37,966 shares of the company's stock valued at $393,000 after purchasing an additional 15,285 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Aduro Clean Technologies in the 2nd quarter valued at $215,000.

About Aduro Clean Technologies

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.