Aqua Metals (NASDAQ:AQMS) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

Aqua Metals, Inc. (NASDAQ:AQMS) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $8.43 and traded as low as $6.99. Aqua Metals shares last traded at $7.01, with a volume of 62,633 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Aqua Metals in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Aqua Metals presently has an average rating of “Hold” and an average target price of $30.00.

Aqua Metals Trading Down 8.0%

The stock has a market cap of $19.22 million, a PE ratio of -0.21 and a beta of 0.05. The firm has a fifty day simple moving average of $8.42 and a two-hundred day simple moving average of $6.43.

Aqua Metals (NASDAQ:AQMS) last posted its quarterly earnings data on Wednesday, November 12th. The business services provider reported ($2.19) earnings per share for the quarter, topping the consensus estimate of ($6.00) by $3.81. Equities analysts forecast that Aqua Metals, Inc. will post -2.8 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in Aqua Metals by 844.5% during the third quarter. Bank of America Corp DE now owns 4,477 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 4,003 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Aqua Metals during the 3rd quarter valued at about $82,000. Finally, Baird Financial Group Inc. lifted its position in Aqua Metals by 81.1% in the 1st quarter. Baird Financial Group Inc. now owns 671,858 shares of the business services provider’s stock worth $1,256,000 after buying an additional 300,787 shares during the last quarter. 21.98% of the stock is currently owned by hedge funds and other institutional investors.

Aqua Metals Company Profile

Aqua Metals, Inc engages in reinventing metals recycling activities with its patented AquaRefining technology. The company's technology produces metals and alloys that can be returned into the battery manufacturing supply chain markets, as well as sells metals for use in various advanced manufacturing industries.