Aduro Clean Technologies Inc. (NASDAQ:ADUR) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Aduro Clean Technologies has a “Moderate Buy” consensus rating from six analysts, with three buys, one strong buy, one hold and one sell. The average 12-month price target is $29.25, well above the reported share price of $12.27.
• Institutional interest has increased, with several funds initiating positions and DGS Capital Management and NewEdge Advisors expanding their holdings.
• The company reported a quarterly loss of $0.27 per share, missing the $0.08 loss expected by analysts. Shares have traded between $9.00 and $18.19 over the past year and carry a high beta of 3.22.

Shares of Aduro Clean Technologies Inc. (NASDAQ:ADUR - Get Free Report) have been given a consensus rating of "Moderate Buy" by the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $29.25.

A number of research firms have weighed in on ADUR. Wall Street Zen downgraded Aduro Clean Technologies from a "sell" rating to a "strong sell" rating in a report on Saturday, September 5th. Roth Capital began coverage on Aduro Clean Technologies in a report on Monday, July 27th. They issued a "buy" rating and a $30.00 target price for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Aduro Clean Technologies in a research report on Friday, July 17th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Longview Financial Advisors Inc. bought a new position in shares of Aduro Clean Technologies during the first quarter valued at $28,000. Bank of America Corp DE bought a new stake in shares of Aduro Clean Technologies in the 1st quarter worth about $123,000. Squarepoint Ops LLC bought a new stake in shares of Aduro Clean Technologies in the 2nd quarter worth about $215,000. DGS Capital Management LLC increased its position in shares of Aduro Clean Technologies by 67.4% during the 4th quarter. DGS Capital Management LLC now owns 37,966 shares of the company's stock worth $393,000 after purchasing an additional 15,285 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Aduro Clean Technologies by 18.3% during the 2nd quarter. NewEdge Advisors LLC now owns 38,332 shares of the company's stock worth $604,000 after purchasing an additional 5,916 shares in the last quarter.

Aduro Clean Technologies Stock Performance

Shares of ADUR stock opened at $12.27 on Thursday. The firm has a fifty day moving average of $14.44 and a 200-day moving average of $13.52. The stock has a market cap of $433.25 million, a price-to-earnings ratio of -19.79 and a beta of 3.22. Aduro Clean Technologies has a 52-week low of $9.00 and a 52-week high of $18.19.

Aduro Clean Technologies (NASDAQ:ADUR - Get Free Report) last issued its earnings results on Monday, August 31st. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.19). On average, sell-side analysts predict that Aduro Clean Technologies will post -0.33 earnings per share for the current year.

Aduro Clean Technologies Company Profile

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.

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