Aqua Metals, Inc. (AQMS) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Aqua Metals, Inc. (NASDAQ:AQMS) from a buy rating to a hold rating in a report released on Tuesday.

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. “

Separately, Oppenheimer Holdings, Inc. restated an outperform rating on shares of Aqua Metals in a report on Tuesday, December 20th.

Aqua Metals (NASDAQ:AQMS) traded down 1.92% during trading on Tuesday, reaching $12.24. 69,508 shares of the company’s stock traded hands. Aqua Metals has a 1-year low of $4.50 and a 1-year high of $14.13. The stock’s market capitalization is $190.67 million. The stock has a 50-day moving average price of $12.58 and a 200 day moving average price of $10.31.

Aqua Metals (NASDAQ:AQMS) last posted its earnings results on Monday, November 7th. The company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.04. Equities research analysts expect that Aqua Metals will post ($0.80) earnings per share for the current year.

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In other Aqua Metals news, insider Stephen R. Clarke bought 20,000 shares of Aqua Metals stock in a transaction that occurred on Wednesday, November 16th. The shares were acquired at an average price of $10.00 per share, for a total transaction of $200,000.00. Following the acquisition, the insider now owns 1,028,637 shares of the company’s stock, valued at approximately $10,286,370. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark Slade bought 7,500 shares of Aqua Metals stock in a transaction that occurred on Wednesday, November 16th. The shares were acquired at an average price of $10.00 per share, for a total transaction of $75,000.00. Following the acquisition, the director now directly owns 27,500 shares in the company, valued at approximately $275,000. The disclosure for this purchase can be found here. Corporate insiders own 19.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. BlackRock Institutional Trust Company N.A. increased its stake in Aqua Metals by 1.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 72,514 shares of the company’s stock valued at $642,000 after buying an additional 841 shares during the period. Advisor Group Inc. increased its stake in Aqua Metals by 2,361.6% in the third quarter. Advisor Group Inc. now owns 12,308 shares of the company’s stock valued at $107,000 after buying an additional 11,808 shares during the period. KCG Holdings Inc. purchased a new stake in Aqua Metals during the third quarter valued at about $106,000. Oppenheimer & Co. Inc. purchased a new stake in Aqua Metals during the third quarter valued at about $144,000. Finally, Teachers Advisors Inc. purchased a new stake in Aqua Metals during the second quarter valued at about $196,000. Institutional investors and hedge funds own 18.85% of the company’s stock.

About Aqua Metals

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.

5 Day Chart for NASDAQ:AQMS

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