Aqua Metals (NASDAQ:AQMS) Given New $2.00 Price Target at HC Wainwright

Aqua Metals (NASDAQ:AQMS) had its target price decreased by HC Wainwright from $4.00 to $2.00 in a research report released on Tuesday morning, 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 decreased their price objective on shares of Aqua Metals from $2.00 to $1.00 and set a speculative buy rating on the stock in a research note on Tuesday.

Aqua Metals Stock Performance

NASDAQ:AQMS opened at $0.19 on Tuesday. The company has a market cap of $21.84 million, a price-to-earnings ratio of -0.77 and a beta of 1.00. Aqua Metals has a fifty-two week low of $0.18 and a fifty-two week high of $1.21. The stock has a fifty day moving average price of $0.34 and a 200-day moving average price of $0.46.

Aqua Metals (NASDAQ:AQMS) last posted its quarterly earnings data on Monday, August 5th. The business services provider reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). During the same quarter in the prior year, the firm posted ($0.06) EPS. Research analysts predict that Aqua Metals will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at Aqua Metals

In related news, CEO Stephen Cotton bought 250,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average price of $0.39 per share, with a total value of $97,500.00. Following the completion of the acquisition, the chief executive officer now owns 6,352,233 shares of the company’s stock, valued at $2,477,370.87. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders have acquired a total of 312,500 shares of company stock worth $121,875 over the last 90 days. Insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Aqua Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Boston Partners grew its stake in shares of Aqua Metals by 16.0% during the first 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 during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Aqua Metals by 14.4% in the 1st quarter. Russell Investments Group Ltd. now owns 1,652,999 shares of the business services provider’s stock valued at $889,000 after acquiring an additional 208,432 shares during the last quarter. Finally, AWM Investment Company Inc. boosted its holdings in shares of Aqua Metals by 100.0% during the 1st 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. Institutional investors own 21.98% of the company’s stock.

Aqua Metals Company Profile

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.