Shares of Aqua Metals Inc (NASDAQ:AQMS) dropped 6% on Tuesday . The stock traded as low as $2.02 and last traded at $2.05. Approximately 599,363 shares changed hands during mid-day trading, an increase of 65% from the average daily volume of 363,418 shares. The stock had previously closed at $2.18.
AQMS has been the topic of several analyst reports. Zacks Investment Research raised shares of Aqua Metals from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. HC Wainwright reaffirmed a “buy” rating on shares of Aqua Metals in a report on Friday, November 10th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $34.00 target price on shares of Aqua Metals in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $28.60.
The company has a current ratio of 4.01, a quick ratio of 3.77 and a debt-to-equity ratio of 0.19.
Aqua Metals (NASDAQ:AQMS) last issued its earnings results on Thursday, November 9th. The business services provider reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.04). The company had revenue of $0.59 million for the quarter, compared to analysts’ expectations of $0.65 million. equities research analysts expect that Aqua Metals Inc will post -1.22 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in AQMS. Frontier Capital Management Co. LLC raised its holdings in Aqua Metals by 2,063.6% during the second quarter. Frontier Capital Management Co. LLC now owns 1,082,592 shares of the business services provider’s stock worth $13,587,000 after purchasing an additional 1,032,556 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Aqua Metals by 35.9% during the second quarter. Wells Fargo & Company MN now owns 895,775 shares of the business services provider’s stock worth $11,241,000 after purchasing an additional 236,420 shares in the last quarter. AWM Investment Company Inc. raised its holdings in Aqua Metals by 11.1% during the second quarter. AWM Investment Company Inc. now owns 1,460,637 shares of the business services provider’s stock worth $18,331,000 after purchasing an additional 145,480 shares in the last quarter. Vanguard Group Inc. raised its holdings in Aqua Metals by 22.4% during the second quarter. Vanguard Group Inc. now owns 630,467 shares of the business services provider’s stock worth $7,912,000 after purchasing an additional 115,233 shares in the last quarter. Finally, Robecosam AG raised its holdings in Aqua Metals by 32.0% during the second quarter. Robecosam AG now owns 424,000 shares of the business services provider’s stock worth $5,287,000 after purchasing an additional 102,900 shares in the last quarter. 38.98% of the stock is currently owned by institutional investors.
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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. 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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