Aduro Clean Technologies (NASDAQ:ADUR) Stock Rating Raised to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded Aduro Clean Technologies from “strong sell” to “sell,” while analyst opinions remain mixed. MarketBeat’s consensus rating is “Moderate Buy,” with an average price target of $29.25.
• ADUR opened at $9.94, near its one-year low of $9.00 and below its 50-day and 200-day moving averages. The company has a $350.98 million market capitalization and a negative price-to-earnings ratio.
• Aduro reported a quarterly loss of $0.07 per share, beating the expected loss of $0.11, though analysts anticipate a full-year loss of $0.40 per share. Several institutional investors recently initiated or increased positions in the company.

Aduro Clean Technologies (NASDAQ:ADUR - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently issued reports on the stock. Roth Capital started coverage on shares of Aduro Clean Technologies in a research note on Monday, July 27th. They set a "buy" rating and a $30.00 price target on the stock. Zacks Research lowered Aduro Clean Technologies from a "hold" rating to a "strong sell" rating in a report on Friday, September 25th. HC Wainwright restated a "buy" rating and issued a $22.00 price target on shares of Aduro Clean Technologies in a research report on Wednesday, September 23rd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aduro Clean Technologies in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.25.

Aduro Clean Technologies Price Performance

NASDAQ:ADUR opened at $9.94 on Friday. The company has a market cap of $350.98 million, a price-to-earnings ratio of -22.09 and a beta of 3.28. Aduro Clean Technologies has a 1 year low of $9.00 and a 1 year high of $18.19. The stock's 50 day simple moving average is $13.29 and its two-hundred day simple moving average is $13.61.

Aduro Clean Technologies (NASDAQ:ADUR - Get Free Report) last posted its earnings results on Thursday, October 15th. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. As a group, analysts anticipate that Aduro Clean Technologies will post -0.40 EPS for the current year.

Institutional Investors Weigh In On Aduro Clean Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Guardian Wealth Advisors LLC NC purchased a new stake in shares of Aduro Clean Technologies in the 2nd quarter valued at $630,000. DGS Capital Management LLC grew its position in 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 acquiring an additional 15,285 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Aduro Clean Technologies in the 2nd quarter valued at about $215,000. Bank of America Corp DE acquired a new position in Aduro Clean Technologies in the 1st quarter valued at about $123,000. Finally, NewEdge Advisors LLC increased 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 worth $604,000 after purchasing an additional 5,916 shares during the period.

About Aduro Clean Technologies

Aduro Clean Technologies Inc NASDAQ: ADUR is a Canadian technology company developing chemical recycling and resource-upgrading solutions. Its proprietary Hydrochemolytic™ technology uses water, catalysts and controlled process conditions to convert difficult-to-process feedstocks into higher-value products.

The company's platform is designed for applications including the conversion of plastic waste into reusable hydrocarbon feedstocks, the upgrading of renewable oils into lower-carbon fuels and chemicals, and the treatment of heavy oil and bitumen.

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