Advanced Emissions Solutions (NASDAQ:ADES)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report released on Wednesday, March 14th, Marketbeat.com reports. They currently have a $18.00 price target on the industrial products company’s stock. HC Wainwright’s target price would indicate a potential upside of 64.23% from the stock’s previous close.
A number of other equities research analysts have also weighed in on ADES. ValuEngine lowered Advanced Emissions Solutions from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded Advanced Emissions Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Advanced Emissions Solutions presently has a consensus rating of “Buy” and an average price target of $16.67.
Shares of Advanced Emissions Solutions (ADES) opened at $10.96 on Wednesday. Advanced Emissions Solutions has a 12 month low of $7.00 and a 12 month high of $12.20. The firm has a market capitalization of $230.15, a P/E ratio of 8.50 and a beta of 1.78.
Advanced Emissions Solutions announced that its Board of Directors has authorized a share repurchase plan on Monday, December 4th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC acquired a new stake in Advanced Emissions Solutions during the 4th quarter valued at approximately $160,000. The Manufacturers Life Insurance Company grew its position in shares of Advanced Emissions Solutions by 13,343.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,476 shares of the industrial products company’s stock worth $160,000 after acquiring an additional 17,346 shares in the last quarter. New York State Common Retirement Fund acquired a new position in shares of Advanced Emissions Solutions in the 2nd quarter worth approximately $205,000. Dimensional Fund Advisors LP acquired a new position in shares of Advanced Emissions Solutions in the 3rd quarter worth approximately $206,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Advanced Emissions Solutions in the 3rd quarter worth approximately $244,000. Hedge funds and other institutional investors own 70.73% of the company’s stock.
Advanced Emissions Solutions Company Profile
ADA-ES, Inc (ADA) develops, offers, and implements environmental technologies and provides equipment and specialty chemicals that enable coal-fueled power plants to meet emissions regulations by enhancing existing air pollution control equipment. ADA’s wholly owned subsidiaries include Advanced Emissions Solutions, Inc, ADA Intellectual Property, LLC and ADA Environmental Solutions, LLC.
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