Zacks Investment Research cut shares of Aqua Metals (NASDAQ:AQMS) from a hold rating to a sell rating in a research note issued to investors on Monday, February 19th.
According to Zacks, “Aqua Metals, Inc. is involved in the business of recycling lead through a process called AquaRefining(TM). Its AquaRefining process elements consists of non-toxic solvent that dissolves lead compounds and an electro-chemical process and electrolyze that converts the dissolved lead compounds into pure, primary grade lead. The Company’s AquaRefining process generates outputs consists of primary lead ingots; lead acid batteries grade lead alloy ingots; cleaned plastic chips, recovered from battery casings and sulphuric acid. Aqua Metals, Inc. is based in Oakland, California. “
Other equities analysts have also issued research reports about the company. Eurobank EFG decreased their target price on Aqua Metals from $17.00 to $12.00 and set a buy rating on the stock in a research note on Wednesday, February 14th. Oppenheimer reaffirmed a buy rating and issued a $34.00 price target on shares of Aqua Metals in a research report on Friday, November 10th. EuroPacific Canada reaffirmed a buy rating and issued a $12.00 price target (down previously from $17.00) on shares of Aqua Metals in a research report on Friday, February 16th. Finally, HC Wainwright reiterated a buy rating on shares of Aqua Metals in a report on Friday, November 10th. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $18.40.
Several institutional investors and hedge funds have recently bought and sold shares of AQMS. Frontier Capital Management Co. LLC raised its holdings in Aqua Metals by 15.8% during the third quarter. Frontier Capital Management Co. LLC now owns 1,253,897 shares of the business services provider’s stock worth $8,589,000 after purchasing an additional 171,305 shares during the last quarter. Prescott Group Capital Management L.L.C. acquired a new position in Aqua Metals during the fourth quarter worth $471,000. Leisure Capital Management acquired a new position in Aqua Metals during the third quarter worth $371,000. Vanguard Group Inc. raised its holdings in Aqua Metals by 22.4% during the second quarter. Vanguard Group Inc. now owns 630,467 shares of the business services provider’s stock worth $7,912,000 after purchasing an additional 115,233 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Aqua Metals by 88.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 32,800 shares of the business services provider’s stock worth $412,000 after buying an additional 15,400 shares in the last quarter. 36.63% of the stock is owned by institutional investors and hedge funds.
About Aqua Metals
Aqua Metals, Inc is engaged in the business of recycling lead through a process that the Company developed and named AquaRefining. The Company’s AquaRefining process focuses on providing for the recycling of lead acid batteries (LABs) and the production of lead. AquaRefining uses bio-degradable aqueous solvent and an ambient temperature electro-chemical process to produce lead.
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