Aqua Metals (NASDAQ:AQMS) Shares Pass Below 50 Day Moving Average – Here’s Why

Aqua Metals, Inc. (NASDAQ:AQMS)’s share price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $8.41 and traded as low as $5.30. Aqua Metals shares last traded at $5.41, with a volume of 126,039 shares traded.

Analysts Set New Price Targets

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

Aqua Metals Stock Performance

The company’s 50-day moving average price is $8.41 and its 200 day moving average price is $6.34. The stock has a market capitalization of $16.12 million, a PE ratio of -0.18 and a beta of 0.05.

Aqua Metals (NASDAQ:AQMS) last released its quarterly earnings results on Wednesday, November 12th. The business services provider reported ($2.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($6.00) by $3.81. Analysts expect that Aqua Metals, Inc. will post -2.8 earnings per share for the current year.

Institutional Investors Weigh In On Aqua Metals

Several hedge funds have recently made changes to their positions in the company. Baird Financial Group Inc. grew its position in shares of 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 period. Schonfeld Strategic Advisors LLC purchased a new stake in Aqua Metals in the third quarter worth about $82,000. Finally, Bank of America Corp DE increased its stake in shares of 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. 21.98% of the stock is currently owned by institutional investors.

Aqua Metals Company Profile

Aqua Metals Inc (NASDAQ: AQMS) is a technology-driven environmental company pioneering sustainable battery recycling solutions. The company’s core offering, branded as AquaRefining, utilizes an electrochemical process to recover lead, silver, and plastic components from spent lead-acid batteries without the need for high-temperature smelting. This water-based approach aims to eliminate air emissions and reduce energy consumption compared to conventional recycling methods.

Based in Reno, Nevada, Aqua Metals develops, manufactures, and licenses its proprietary modular recycling systems to industrial battery recyclers and battery manufacturers.