HC Wainwright Trims Aqua Metals (NASDAQ:AQMS) Target Price to $2.00

Aqua Metals (NASDAQ:AQMS) had its target price reduced by HC Wainwright from $4.00 to $2.00 in a report released on Tuesday, Benzinga reports. HC Wainwright currently has a buy rating on the business services provider’s stock. HC Wainwright also issued estimates for Aqua Metals’ Q3 2024 earnings at ($0.03) EPS, Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at ($0.14) EPS, FY2025 earnings at ($0.05) EPS, FY2026 earnings at ($0.12) EPS, FY2027 earnings at ($0.05) EPS and FY2028 earnings at $0.04 EPS.

Separately, Benchmark reduced their target price on Aqua Metals from $2.00 to $1.00 and set a speculative buy rating on the stock in a research report on Tuesday.

Aqua Metals Stock Up 8.7 %

Shares of AQMS traded up $0.02 during midday trading on Tuesday, reaching $0.21. The company had a trading volume of 1,030,438 shares, compared to its average volume of 480,277. Aqua Metals has a 1-year low of $0.18 and a 1-year high of $1.21. The firm has a 50 day simple moving average of $0.34 and a 200-day simple moving average of $0.45. The stock has a market cap of $23.73 million, a PE ratio of -0.84 and a beta of 1.00.

Aqua Metals (NASDAQ:AQMS) last posted its earnings results on Monday, August 5th. The business services provider reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). During the same quarter last year, the business earned ($0.06) earnings per share. As a group, sell-side analysts anticipate that Aqua Metals will post -0.2 earnings per share for the current fiscal year.

Insider Activity at Aqua Metals

In other news, CEO Stephen Cotton acquired 250,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was acquired at an average cost of $0.39 per share, with a total value of $97,500.00. Following the completion of the purchase, the chief executive officer now owns 6,352,233 shares of the company’s stock, valued at approximately $2,477,370.87. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders purchased 312,500 shares of company stock worth $121,875. Insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Boston Partners lifted its holdings in Aqua Metals by 16.0% during the 1st quarter. Boston Partners now owns 615,909 shares of the business services provider’s stock worth $331,000 after buying an additional 85,019 shares in the last quarter. AWM Investment Company Inc. raised its stake in shares of Aqua Metals by 100.0% in the first quarter. AWM Investment Company Inc. now owns 1,800,000 shares of the business services provider’s stock valued at $968,000 after acquiring an additional 900,000 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Aqua Metals by 14.4% in the first quarter. Russell Investments Group Ltd. now owns 1,652,999 shares of the business services provider’s stock valued at $889,000 after purchasing an additional 208,432 shares during the period. Hedge funds and other institutional investors own 21.98% of the company’s stock.

About Aqua Metals

Aqua Metals, Inc engages in reinventing metals recycling activities with its patented AquaRefining technology. The company's technology produces metals and alloys that can be returned into the battery manufacturing supply chain markets, as well as sells metals for use in various advanced manufacturing industries.