Aqua Metals (NASDAQ:AQMS) Shares Pass Below Fifty Day Moving Average – What’s Next?

Aqua Metals, Inc. (NASDAQ:AQMS)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $6.37 and traded as low as $5.96. Aqua Metals shares last traded at $6.08, with a volume of 97,460 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aqua Metals in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $30.00.

Aqua Metals Trading Down 1.1%

The stock’s 50 day moving average is $6.37 and its 200 day moving average is $6.10. The stock has a market capitalization of $18.12 million, a price-to-earnings ratio of -0.20 and a beta of -0.22.

Aqua Metals (NASDAQ:AQMS) last announced its 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. On average, sell-side analysts anticipate that Aqua Metals, Inc. will post -2.8 EPS for the current year.

Institutional Investors Weigh In On Aqua Metals

A hedge fund recently raised its stake in Aqua Metals stock. Bank of America Corp DE raised its stake in Aqua Metals, Inc. (NASDAQ:AQMS) by 844.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,477 shares of the business services provider’s stock after acquiring an additional 4,003 shares during the quarter. Bank of America Corp DE owned approximately 0.30% of Aqua Metals worth $29,000 at the end of the most recent quarter. 21.98% of the stock is owned by institutional investors and hedge funds.

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.