Aqua Metals Inc (AQMS) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Aqua Metals Inc (NASDAQ:AQMS) from a hold rating to a sell rating in a research note published on Wednesday morning.

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. “

Other analysts have also recently issued reports about the stock. National Securities initiated coverage on shares of Aqua Metals in a research report on Thursday, February 16th. They set a buy rating and a $25.00 price target for the company. CIBC reaffirmed an outperform rating and set a $34.00 price target (up from $16.00) on shares of Aqua Metals in a research report on Monday, March 13th. Oppenheimer Holdings Inc. upped their price target on shares of Aqua Metals from $16.00 to $34.00 and gave the stock an outperform rating in a research report on Monday, March 13th. Finally, National Bank Financial began coverage on shares of Aqua Metals in a research report on Thursday, February 16th. They set an outperform rating for the company. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $27.00.

Aqua Metals (NASDAQ:AQMS) opened at 19.92 on Wednesday. The stock’s market cap is $385.19 million. Aqua Metals has a one year low of $5.98 and a one year high of $22.75. The firm’s 50 day moving average price is $16.16 and its 200 day moving average price is $12.12.

Aqua Metals (NASDAQ:AQMS) last announced its quarterly earnings results on Tuesday, February 14th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by $0.08. During the same period in the previous year, the firm earned ($0.17) EPS. Equities analysts forecast that Aqua Metals will post ($0.35) earnings per share for the current year.

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In other Aqua Metals news, CFO Thomas Michael Murphy sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $17.24, for a total value of $344,800.00. Following the transaction, the chief financial officer now owns 765,455 shares in the company, valued at approximately $13,196,444.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 19.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of AQMS. Advisor Group Inc. raised its position in shares of Aqua Metals by 2,361.6% in the third quarter. Advisor Group Inc. now owns 12,308 shares of the company’s stock worth $107,000 after buying an additional 11,808 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Aqua Metals during the third quarter worth about $144,000. AQR Capital Management LLC bought a new stake in shares of Aqua Metals during the fourth quarter worth about $274,000. Russell Investments Group Ltd. bought a new stake in shares of Aqua Metals during the fourth quarter worth about $455,000. Finally, Mangrove Partners bought a new stake in shares of Aqua Metals during the third quarter worth about $1,190,000. Hedge funds and other institutional investors own 20.52% of the company’s stock.

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. 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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