Aqua Metals (NASDAQ:AQMS) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Aqua Metals, Inc. (NASDAQ:AQMS) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $2.86 and traded as high as $2.89. Aqua Metals shares last traded at $2.81, with a volume of 36,679 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aqua Metals in a research report on Friday, July 17th. Benchmark reissued a “speculative buy” rating and issued a $5.00 price target (down from $12.00) on shares of Aqua Metals in a report on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.00.

Aqua Metals Stock Performance

The company has a market capitalization of $10.01 million, a P/E ratio of -0.60 and a beta of 0.31. The company’s fifty day simple moving average is $2.86 and its 200-day simple moving average is $3.91.

Aqua Metals (NASDAQ:AQMS) last announced its earnings results on Thursday, July 30th. The business services provider reported ($1.31) earnings per share for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AQMS. Bank of America Corp DE raised its stake in Aqua Metals by 844.5% in the 3rd 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 during the last quarter. Quadrature Capital Ltd acquired a new stake in Aqua Metals during the 4th quarter worth $61,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Aqua Metals during the third quarter worth $82,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Aqua Metals during the fourth quarter worth $77,000. Finally, Hamilton Capital Partners LLC acquired a new stake in shares of Aqua Metals in the fourth quarter valued at about $84,000. 21.98% of the stock is owned by hedge funds and other 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.