Aqua Metals, Inc. (NASDAQ:AQMS) Sees Large Growth in Short Interest

Aqua Metals, Inc. (NASDAQ:AQMS) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 383,656 shares, a growth of 123.8% from the May 31st total of 171,455 shares. Based on an average daily trading volume, of 300,040 shares, the days-to-cover ratio is currently 1.3 days. Currently, 12.4% of the company’s shares are sold short.

Aqua Metals Stock Up 2.4%

AQMS stock opened at $2.97 on Tuesday. The company has a market cap of $9.98 million, a price-to-earnings ratio of -0.27 and a beta of 0.26. The business has a fifty day simple moving average of $4.00 and a 200-day simple moving average of $4.60. Aqua Metals has a 52 week low of $2.51 and a 52 week high of $39.40.

Aqua Metals (NASDAQ:AQMS) last issued its earnings results on Thursday, May 14th. The business services provider reported ($1.22) earnings per share for the quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AQMS. Benchmark reiterated a “speculative buy” rating on shares of Aqua Metals in a report on Friday, June 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Aqua Metals in a report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Hedge Funds Weigh In On Aqua Metals

Hedge funds and other institutional investors have recently modified their holdings of the company. Stifel Financial Corp purchased a new stake in shares of Aqua Metals during the 4th quarter worth about $269,000. Geode Capital Management LLC purchased a new position in Aqua Metals in the fourth quarter valued at approximately $129,000. Schonfeld Strategic Advisors LLC acquired a new position in Aqua Metals during the third quarter valued at approximately $82,000. Price T Rowe Associates Inc. MD acquired a new position in Aqua Metals during the fourth quarter valued at approximately $77,000. Finally, Quadrature Capital Ltd purchased a new stake in Aqua Metals during the fourth quarter worth approximately $61,000. 21.98% of the stock is owned by institutional investors and hedge funds.

Aqua Metals Company Profile

Aqua Metals Inc (NASDAQ: AQMS) is a technology-driven environmental company pioneering sustainable battery recycling solutions. The company’s core offering, branded as AquaRefining, utilizes an electrochemical process to recover lead, silver, and plastic components from spent lead-acid batteries without the need for high-temperature smelting. This water-based approach aims to eliminate air emissions and reduce energy consumption compared to conventional recycling methods.

Based in Reno, Nevada, Aqua Metals develops, manufactures, and licenses its proprietary modular recycling systems to industrial battery recyclers and battery manufacturers.