Aqua Metals, Inc. Forecasted to Post Q3 2024 Earnings of ($0.03) Per Share (NASDAQ:AQMS)

Aqua Metals, Inc. (NASDAQ:AQMS) – HC Wainwright lifted their Q3 2024 EPS estimates for Aqua Metals in a research report issued on Tuesday, August 6th. HC Wainwright analyst A. Dayal now anticipates that the business services provider will earn ($0.03) per share for the quarter, up from their previous forecast of ($0.05). HC Wainwright currently has a “Buy” rating and a $2.00 target price on the stock. The consensus estimate for Aqua Metals’ current full-year earnings is ($0.20) per share. HC Wainwright also issued estimates for Aqua Metals’ 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.

Aqua Metals (NASDAQ:AQMS) last posted its quarterly earnings data on Monday, August 5th. The business services provider reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). During the same quarter last year, the company posted ($0.06) EPS.

Separately, Benchmark cut their price target on shares of Aqua Metals from $2.00 to $1.00 and set a “speculative buy” rating on the stock in a report on Tuesday.

Aqua Metals Price Performance

NASDAQ:AQMS traded up $0.02 during midday trading on Thursday, hitting $0.21. The company’s stock had a trading volume of 1,030,438 shares, compared to its average volume of 480,277. Aqua Metals has a fifty-two week low of $0.18 and a fifty-two week high of $1.21. The firm’s 50 day moving average is $0.34 and its 200-day moving average is $0.45. The firm has a market cap of $23.73 million, a P/E ratio of -0.84 and a beta of 1.00.

Institutional Investors Weigh In On Aqua Metals

Several hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its position in shares of Aqua Metals by 32.1% during the 4th quarter. Russell Investments Group Ltd. now owns 1,444,567 shares of the business services provider’s stock valued at $1,098,000 after buying an additional 351,175 shares in the last quarter. AWM Investment Company Inc. increased its stake in shares of Aqua Metals by 100.0% in the 1st quarter. AWM Investment Company Inc. now owns 1,800,000 shares of the business services provider’s stock worth $968,000 after acquiring an additional 900,000 shares during the last quarter. Finally, Boston Partners increased its stake in shares of Aqua Metals by 16.0% in the 1st quarter. Boston Partners now owns 615,909 shares of the business services provider’s stock worth $331,000 after acquiring an additional 85,019 shares during the last quarter. Hedge funds and other institutional investors own 21.98% of the company’s stock.

Insider Buying and Selling

In related news, CEO Stephen Cotton acquired 250,000 shares of the stock in a transaction on Tuesday, May 14th. The shares were acquired at an average price of $0.39 per share, for a total transaction of $97,500.00. Following the transaction, the chief executive officer now owns 6,352,233 shares in the company, valued at approximately $2,477,370.87. The purchase was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have acquired 312,500 shares of company stock worth $121,875. 4.70% of the stock is owned by company insiders.

About Aqua Metals

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.