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

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

Analyst Ratings Changes

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

Aduro Clean Technologies Price Performance

The stock has a market capitalization of $508.11 million, a price-to-earnings ratio of -32.75 and a beta of 3.20. The stock’s 50 day simple moving average is $15.00 and its 200-day simple moving average is $12.84.

Institutional Investors Weigh In On Aduro Clean Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Longview Financial Advisors Inc. acquired a new position in Aduro Clean Technologies during the first quarter worth $28,000. Wells Fargo & Company MN lifted its position in shares of Aduro Clean Technologies by 800.0% in the fourth quarter. Wells Fargo & Company MN now owns 2,700 shares of the company’s stock worth $28,000 after buying an additional 2,400 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Aduro Clean Technologies during the 2nd quarter worth about $44,000. Virtu Financial LLC bought a new stake in shares of Aduro Clean Technologies during the 4th quarter worth about $112,000. Finally, Bank of America Corp DE acquired a new position in shares of Aduro Clean Technologies during the 1st quarter valued at about $123,000.

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.