Zacks Investment Research Downgrades Aqua Metals (AQMS) to Sell

Aqua Metals (NASDAQ:AQMS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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 brokerages have also weighed in on AQMS. Oppenheimer restated a “buy” rating and issued a $34.00 target price on shares of Aqua Metals in a research note on Friday, November 10th. HC Wainwright restated a “buy” rating on shares of Aqua Metals in a research note on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $28.60.

Shares of Aqua Metals (NASDAQ:AQMS) traded up $0.58 on Monday, reaching $2.20. The company had a trading volume of 4,270,278 shares, compared to its average volume of 526,310. The stock has a market cap of $56.21 and a PE ratio of -1.72. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.01 and a quick ratio of 3.77. Aqua Metals has a twelve month low of $1.42 and a twelve month high of $22.75.

Aqua Metals (NASDAQ:AQMS) last announced its earnings results on Thursday, November 9th. The business services provider reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). The business had revenue of $0.59 million during the quarter, compared to analyst estimates of $0.65 million. research analysts predict that Aqua Metals will post -1.22 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in AQMS. Janus Henderson Group PLC bought a new position in Aqua Metals in the 2nd quarter worth about $149,000. Virtu KCG Holdings LLC bought a new position in Aqua Metals in the 2nd quarter worth about $160,000. The Manufacturers Life Insurance Company increased its stake in Aqua Metals by 47.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,979 shares of the business services provider’s stock worth $176,000 after acquiring an additional 4,499 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Aqua Metals in the 3rd quarter worth about $215,000. Finally, Goldman Sachs Group Inc. bought a new position in Aqua Metals in the 2nd quarter worth about $220,000. Institutional investors and hedge funds own 29.20% of the company’s stock.

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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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