Aqua Metals (NASDAQ:AQMS) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

Aqua Metals, Inc. (NASDAQ:AQMS) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $6.12 and traded as low as $5.17. Aqua Metals shares last traded at $5.27, with a volume of 111,587 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Aqua Metals in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Aqua Metals presently has an average rating of “Hold” and a consensus price target of $30.00.

Aqua Metals Stock Performance

The company has a 50-day simple moving average of $6.12 and a two-hundred day simple moving average of $6.14. The firm has a market capitalization of $15.70 million, a P/E ratio of -0.17 and a beta of -0.22.

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

Institutional Trading of Aqua Metals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hamilton Capital Partners LLC purchased a new position in Aqua Metals during the 4th quarter valued at about $84,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Aqua Metals during the third quarter valued at approximately $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 owned by hedge funds and other institutional investors.

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.