Aqua Metals (NASDAQ:AQMS) Stock Crosses Below Fifty Day Moving Average – Here’s Why

Aqua Metals, Inc. (NASDAQ:AQMS)’s share price passed 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 traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Aqua Metals in a research report 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.com, the stock has an average rating of “Hold” and an average price target of $30.00.

Aqua Metals Price Performance

The firm has a fifty day simple moving average of $6.34 and a 200-day simple moving average of $6.12. The firm has a market cap of $18.33 million, a P/E ratio of -0.20 and a beta of -0.22.

Aqua Metals (NASDAQ:AQMS) last issued its earnings results on Wednesday, November 12th. The business services provider reported ($2.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($6.00) by $3.81. On average, equities analysts predict that Aqua Metals, Inc. will post -2.8 earnings per share for the current year.

Institutional Trading of Aqua Metals

A hedge fund recently raised its stake in Aqua Metals stock. Bank of America Corp DE lifted its position in Aqua Metals, Inc. (NASDAQ:AQMS) by 844.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period. 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.