Aqua Metals (NASDAQ:AQMS) Issues Earnings Results

Aqua Metals (NASDAQ:AQMS) issued its quarterly earnings results on Thursday. The business services provider reported ($1.31) EPS for the quarter, Zacks reports.

Here are the key takeaways from Aqua Metals’ conference call:

• Aqua Metals is advancing its phased Headwaters ARC commercialization plan, beginning with proven mechanical preprocessing for LFP materials and later adding AquaRefining to produce lithium carbonate, iron phosphate, and graphite. Management said the approach is intended to accelerate revenue while reducing capital and technology risk.
• The company is completing diligence on a Midwest site with approximately 150,000 square feet of industrial space and more than 50 acres near six LFP gigafactory projects. Full-campus plans call for approximately 20,000 tons per year of processing capacity, although the project remains subject to financing, permitting, and commercial agreements.
• Management expects several milestones in the second half of 2026, including securing site control, selecting a Phase 1 equipment partner, advancing feedstock and offtake contracts, arranging project-level financing, and moving toward a final investment decision. The company said it will not provide detailed project economics until that decision.
• Aqua Metals ended the quarter with approximately $4.7 million in cash, used about $6.5 million in operating cash during the first half, and raised $581,000 through its ATM in the second quarter. The company remains debt-free but acknowledged prior equity issuance and plans to use corporate equity sparingly, implying continued dilution risk while project financing is arranged.
• The company reported a second-quarter net loss of approximately $4.5 million and recorded an additional $2.1 million non-cash credit-loss provision related to Lion Energy. The allowance now covers about 60% of the approximately $4.2 million gross receivable balance, while Aqua Metals continues pursuing recovery.

Aqua Metals Stock Down 11.5%

NASDAQ:AQMS opened at $2.53 on Friday. The stock’s 50 day moving average price is $3.12 and its two-hundred day moving average price is $4.14. The firm has a market capitalization of $8.98 million, a price-to-earnings ratio of -0.23 and a beta of 0.29. Aqua Metals has a 12-month low of $2.47 and a 12-month high of $39.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. 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 acquiring an additional 4,003 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Aqua Metals in the fourth quarter valued at $61,000. Price T Rowe Associates Inc. MD bought a new position in shares of Aqua Metals in the fourth quarter valued at about $77,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Aqua Metals in the third quarter valued at about $82,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Aqua Metals during the 4th quarter worth about $129,000. 21.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AQMS. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aqua Metals in a report on Friday, July 17th. Benchmark reaffirmed a “speculative buy” rating and issued a $5.00 target price (down from $12.00) on shares of Aqua Metals in a research report on Friday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.00.

About Aqua Metals

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.