Aqua Metals Inc (NASDAQ:AQMS) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.
AQMS has been the subject of several other reports. Zacks Investment Research downgraded Aqua Metals from a “hold” rating to a “sell” rating in a report on Wednesday, March 15th. National Securities assumed coverage on Aqua Metals in a report on Thursday, February 16th. They issued a “buy” rating and a $25.00 price target for the company. CIBC reaffirmed an “outperform” rating and set a $34.00 price objective (up from $16.00) on shares of Aqua Metals in a research report on Monday, March 13th. Oppenheimer Holdings Inc. upped their price objective on 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 assumed coverage on Aqua Metals in a research report on Thursday, February 16th. They set an “outperform” rating for the company. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Aqua Metals has a consensus rating of “Hold” and an average target price of $27.00.
Aqua Metals (NASDAQ:AQMS) traded down 3.62% during mid-day trading on Friday, reaching $11.19. 328,685 shares of the company were exchanged. The company’s market cap is $225.38 million. Aqua Metals has a 12 month low of $8.13 and a 12 month high of $22.75. The stock’s 50-day moving average is $15.96 and its 200-day moving average is $14.50.
Aqua Metals (NASDAQ:AQMS) last announced its quarterly earnings results on Tuesday, May 9th. The business services provider reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by $0.08. Equities analysts expect that Aqua Metals will post ($0.73) earnings per share for the current year.
In related news, major shareholder Interstate Batteries, Inc. sold 33,800 shares of the stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $16.62, for a total transaction of $561,756.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Cotton sold 4,415 shares of the stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $17.84, for a total value of $78,763.60. Following the transaction, the insider now directly owns 97,706 shares of the company’s stock, valued at $1,743,075.04. The disclosure for this sale can be found here. Insiders have sold 379,733 shares of company stock valued at $6,489,898 over the last ninety days. 19.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Inc. boosted 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 business services provider’s stock valued at $107,000 after buying an additional 11,808 shares during the period. Mangrove Partners bought a new position in shares of Aqua Metals during the third quarter valued at approximately $1,190,000. AWM Investment Company Inc. boosted its position in shares of Aqua Metals by 13.8% in the third quarter. AWM Investment Company Inc. now owns 1,272,250 shares of the business services provider’s stock valued at $11,272,000 after buying an additional 154,600 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Aqua Metals during the fourth quarter valued at approximately $455,000. Finally, State Street Corp boosted its position in shares of Aqua Metals by 4.4% in the fourth quarter. State Street Corp now owns 146,644 shares of the business services provider’s stock valued at $1,922,000 after buying an additional 6,163 shares during the period. 20.52% of the stock is owned by hedge funds and other institutional investors.
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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