Aqua Metals Inc. (AQMS) Upgraded at Zacks Investment Research
Aqua Metals Inc. (NASDAQ:AQMS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
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. “
Shares of Aqua Metals (NASDAQ:AQMS) traded down 2.22% during mid-day trading on Tuesday, reaching $8.82. The company had a trading volume of 54,327 shares. The company’s 50-day moving average is $8.94 and its 200 day moving average is $9.39. Aqua Metals has a 52-week low of $4.50 and a 52-week high of $13.07. The stock’s market capitalization is $137.36 million.
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Aqua Metals (NASDAQ:AQMS) last issued its earnings results on Wednesday, August 10th. The company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.05. Analysts anticipate that Aqua Metals will post ($0.74) EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the company. BlackRock Fund Advisors boosted its stake in shares of Aqua Metals by 5,767.1% in the second quarter. BlackRock Fund Advisors now owns 279,276 shares of the company’s stock worth $3,286,000 after buying an additional 274,516 shares during the last quarter. EAM Investors LLC acquired a new stake in shares of Aqua Metals during the second quarter worth $1,647,000. State Street Corp acquired a new stake in shares of Aqua Metals during the second quarter worth $1,544,000. Vanguard Group Inc. boosted its stake in shares of Aqua Metals by 365.9% in the second quarter. Vanguard Group Inc. now owns 130,424 shares of the company’s stock worth $1,535,000 after buying an additional 102,433 shares during the last quarter. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Aqua Metals during the first quarter worth $679,000. Hedge funds and other institutional investors own 19.41% of the company’s stock.
About Aqua Metals
Aqua Metals, Inc is engaged in the business of recycling lead through a process that the Company developed and named AquaRefining. AquaRefining process will provide for the recycling of lead acid batteries (LABs) and the production of lead. AquaRefining is a water-based ambient temperature process. The modular nature of AquaRefining makes it possible to start LAB recycling at a smaller scale than is possible with smelters.
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