Shares of Aqua Metals, Inc. (NASDAQ:AQMS) hit a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $7.86 and last traded at $8.17, with a volume of 461,744 shares changing hands. The stock had previously closed at $10.87.

The business services provider reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by $0.10. The firm had revenue of $0.60 million for the quarter, compared to analysts’ expectations of $1.23 million.

AQMS has been the topic of several recent research reports. ValuEngine cut shares of Aqua Metals from a “hold” rating to a “sell” rating in a research report on Saturday, May 20th. Rodman & Renshaw initiated coverage on shares of Aqua Metals in a research report on Sunday, July 2nd. They set a “buy” rating and a $25.00 target price on the stock. HC Wainwright initiated coverage on shares of Aqua Metals in a research report on Thursday, June 22nd. They set a “buy” rating and a $25.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Aqua Metals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $26.33.

Hedge funds have recently bought and sold shares of the company. First Mercantile Trust Co. purchased a new stake in Aqua Metals during the second quarter worth $126,000. American International Group Inc. raised its stake in Aqua Metals by 8.1% in the first quarter. American International Group Inc. now owns 6,678 shares of the business services provider’s stock worth $130,000 after buying an additional 499 shares during the period. Sigma Planning Corp purchased a new stake in Aqua Metals during the second quarter worth $150,000. CAPROCK Group Inc. purchased a new stake in Aqua Metals during the second quarter worth $164,000. Finally, Beech Hill Advisors Inc. purchased a new stake in Aqua Metals during the second quarter worth $194,000. 40.16% of the stock is currently owned by institutional investors.

The stock’s market cap is $165.36 million. The firm has a 50 day moving average price of $11.88 and a 200-day moving average price of $14.46.

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Aqua Metals Company Profile

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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