Aqua Metals, Inc. (NASDAQ:AQMS) Sees Significant Decline in Short Interest

Aqua Metals, Inc. (NASDAQ:AQMS) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 244,324 shares, a drop of 19.1% from the December 15th total of 301,839 shares. Currently, 8.9% of the shares of the company are short sold. Based on an average daily volume of 112,800 shares, the short-interest ratio is presently 2.2 days. Based on an average daily volume of 112,800 shares, the short-interest ratio is presently 2.2 days. Currently, 8.9% of the shares of the company are short sold.

Hedge Funds Weigh In On Aqua Metals

An institutional investor recently raised its position in Aqua Metals stock. Bank of America Corp DE raised its stake in shares of Aqua Metals, Inc. (NASDAQ:AQMS) by 844.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,477 shares of the business services provider’s stock after purchasing an additional 4,003 shares during the period. Bank of America Corp DE owned 0.30% of Aqua Metals worth $29,000 at the end of the most recent quarter. 21.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aqua Metals in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Aqua Metals currently has a consensus rating of “Hold” and a consensus price target of $30.00.

Aqua Metals Price Performance

AQMS traded up $0.12 during trading on Tuesday, hitting $6.27. 49,660 shares of the stock traded hands, compared to its average volume of 110,651. The business has a 50 day moving average price of $6.33 and a 200 day moving average price of $6.13. Aqua Metals has a twelve month low of $3.37 and a twelve month high of $39.40. The company has a market cap of $18.68 million, a price-to-earnings ratio of -0.20 and a beta of -0.22.

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

Aqua Metals Company Profile

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.