Aqua Metals, Inc. (NASDAQ:AQMS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “Aqua Metals, Inc. is involved in the business of recycling lead through a process called AquaRefining(TM). Its AquaRefining process elements consists of non-toxic solvent that dissolves lead compounds and an electro-chemical process and electrolyze that converts the dissolved lead compounds into pure, primary grade lead. The Company’s AquaRefining process generates outputs consists of primary lead ingots; lead acid batteries grade lead alloy ingots; cleaned plastic chips, recovered from battery casings and sulphuric acid. Aqua Metals, Inc. is based in Oakland, California. “
Several other brokerages have also recently issued reports on AQMS. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $34.00 price objective on shares of Aqua Metals in a report on Friday, November 10th. HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Aqua Metals in a report on Monday, August 14th. Finally, ValuEngine downgraded Aqua Metals from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $28.60.
Aqua Metals (NASDAQ AQMS) traded down $0.58 during trading on Wednesday, hitting $3.00. The company’s stock had a trading volume of 491,100 shares, compared to its average volume of 327,181. Aqua Metals has a 1-year low of $2.98 and a 1-year high of $22.75. The company has a quick ratio of 3.77, a current ratio of 4.01 and a debt-to-equity ratio of 0.19.
Aqua Metals (NASDAQ:AQMS) last announced its quarterly earnings data on Thursday, November 9th. The business services provider reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.04). The company had revenue of $0.59 million during the quarter, compared to the consensus estimate of $0.65 million. sell-side analysts expect that Aqua Metals will post -1.12 earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently bought and sold shares of the company. AWM Investment Company Inc. lifted its stake in shares of Aqua Metals by 11.1% during the 2nd quarter. AWM Investment Company Inc. now owns 1,460,637 shares of the business services provider’s stock worth $18,331,000 after purchasing an additional 145,480 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in Aqua Metals by 15.8% in the third quarter. Frontier Capital Management Co. LLC now owns 1,253,897 shares of the business services provider’s stock valued at $8,589,000 after buying an additional 171,305 shares during the last quarter. Wells Fargo & Company MN raised its stake in Aqua Metals by 35.9% in the second quarter. Wells Fargo & Company MN now owns 895,775 shares of the business services provider’s stock valued at $11,241,000 after buying an additional 236,420 shares during the last quarter. Vanguard Group Inc. raised its stake in Aqua Metals by 22.4% in the second quarter. Vanguard Group Inc. now owns 630,467 shares of the business services provider’s stock valued at $7,912,000 after buying an additional 115,233 shares during the last quarter. Finally, Robecosam AG raised its stake in Aqua Metals by 10.8% in the third quarter. Robecosam AG now owns 470,000 shares of the business services provider’s stock valued at $3,361,000 after buying an additional 46,000 shares during the last quarter. 43.79% of the stock is currently owned by institutional investors and hedge funds.
Aqua Metals Company Profile
Aqua Metals, Inc is engaged in the business of recycling lead through a process that the Company developed and named AquaRefining. The Company’s AquaRefining process focuses on providing for the recycling of lead acid batteries (LABs) and the production of lead. AquaRefining uses bio-degradable aqueous solvent and an ambient temperature electro-chemical process to produce lead.
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