Aqua Metals (NASDAQ:AQMS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.
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. “
A number of other research analysts also recently issued reports on the stock. HC Wainwright reissued a “buy” rating on shares of Aqua Metals in a research report on Friday, November 10th. Oppenheimer reissued a “buy” rating and set a $34.00 price objective on shares of Aqua Metals in a research report on Friday, November 10th. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $28.60.
Aqua Metals (NASDAQ:AQMS) last issued 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 business had revenue of $0.59 million for the quarter, compared to analyst estimates of $0.65 million. sell-side analysts expect that Aqua Metals will post -1.22 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of AQMS. Selz Capital LLC increased its position in Aqua Metals by 402.7% during the 4th quarter. Selz Capital LLC now owns 553,000 shares of the business services provider’s stock valued at $1,178,000 after purchasing an additional 443,000 shares during the period. Frontier Capital Management Co. LLC increased its position in Aqua Metals by 15.8% during the 3rd 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 purchasing an additional 171,305 shares during the period. AWM Investment Company Inc. increased its position in 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 valued at $18,331,000 after purchasing an additional 145,480 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Aqua Metals by 22.4% during the 2nd 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 in the last quarter. Finally, Robecosam AG boosted its holdings in shares of Aqua Metals by 32.0% during the 2nd quarter. Robecosam AG now owns 424,000 shares of the business services provider’s stock valued at $5,287,000 after buying an additional 102,900 shares in the last quarter. 29.69% of the stock is currently owned by institutional investors and hedge funds.
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About Aqua Metals
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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