Aduro Clean Technologies (NASDAQ:ADUR) Shares Down 6.1% – Here’s Why

Aduro Clean Technologies Inc. (NASDAQ:ADUR) traded down 6.1% during mid-day trading on Wednesday . The stock traded as low as $15.05 and last traded at $15.0450. Approximately 122,985 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 431,336 shares. The stock had previously closed at $16.03.

Analyst Ratings Changes

A number of research analysts have recently commented on ADUR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aduro Clean Technologies in a research report on Monday, April 20th. LADENBURG THALM/SH SH raised Aduro Clean Technologies to a “strong-buy” rating in a research report on Wednesday, May 6th. Wall Street Zen raised Aduro Clean Technologies from a “strong sell” rating to a “sell” rating in a report on Sunday, May 31st. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $46.00 price target on shares of Aduro Clean Technologies in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Aduro Clean Technologies has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Aduro Clean Technologies Stock Down 5.4%

The stock has a market cap of $451.26 million, a price-to-earnings ratio of -29.04 and a beta of 3.20. The company’s 50-day moving average is $14.98 and its 200-day moving average is $12.86.

Hedge Funds Weigh In On Aduro Clean Technologies

A number of hedge funds have recently modified their holdings of ADUR. Geode Capital Management LLC bought a new position in shares of Aduro Clean Technologies during the 2nd quarter worth approximately $172,000. NewEdge Advisors LLC boosted its stake in Aduro Clean Technologies by 21,000.0% in the 2nd quarter. NewEdge Advisors LLC now owns 21,100 shares of the company’s stock valued at $189,000 after buying an additional 21,000 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Aduro Clean Technologies in the second quarter valued at $44,000. UBS Group AG grew its position in Aduro Clean Technologies by 20.9% in the third quarter. UBS Group AG now owns 70,594 shares of the company’s stock valued at $946,000 after acquiring an additional 12,202 shares during the period. Finally, Two Sigma Investments LP bought a new stake in Aduro Clean Technologies in the third quarter valued at $528,000.

Aduro Clean Technologies Company Profile

Aduro Clean Technologies, Inc is a development‐stage clean energy company that designs, develops and seeks to commercialize modular process systems for the production and purification of hydrogen. Listed on the Nasdaq under the ticker ADUR, the company focuses on low‐emission solutions to support the emerging hydrogen economy, including renewable fuel applications, energy storage and industrial gas supply. Aduro Clean Technologies aims to address the growing demand for high‐purity hydrogen across mobility, power generation and chemical processing sectors.

The company’s core technologies include its H2-Conductor platform, a membrane‐based system engineered to separate and purify hydrogen from mixed gas streams, and its H2-Integrate suite of modular reactors capable of producing hydrogen from various feedstocks.