Aqua Metals (NASDAQ:AQMS) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Aqua Metals, Inc. (NASDAQ:AQMS)’s share price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $7.13 and traded as low as $6.50. Aqua Metals shares last traded at $6.61, with a volume of 270,773 shares changing hands.

Analyst Upgrades and Downgrades

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

Aqua Metals Stock Up 11.2%

The stock has a market capitalization of $10.88 million, a P/E ratio of -0.20 and a beta of 0.42. The company has a fifty day moving average price of $7.21 and a 200-day moving average price of $7.14.

Aqua Metals (NASDAQ:AQMS) last announced its quarterly earnings results on Wednesday, August 13th. The business services provider reported ($7.44) EPS for the quarter, missing analysts’ consensus estimates of ($6.00) by ($1.44). As a group, research analysts expect that Aqua Metals, Inc. will post -2.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aqua Metals

A hedge fund recently raised its stake in Aqua Metals stock. Baird Financial Group Inc. boosted its holdings in shares of Aqua Metals, Inc. (NASDAQ:AQMS) by 81.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 671,858 shares of the business services provider’s stock after purchasing an additional 300,787 shares during the quarter. Baird Financial Group Inc. owned about 8.10% of Aqua Metals worth $1,256,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 21.98% of the company’s stock.

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.