Aqua Metals, Inc. (NASDAQ:AQMS) Sees Large Drop in Short Interest

Aqua Metals, Inc. (NASDAQ:AQMS) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 207,800 shares, a drop of 94.5% from the October 15th total of 3,810,000 shares. Based on an average trading volume of 43,500 shares, the days-to-cover ratio is presently 4.8 days. Currently, 3.2% of the company’s shares are short sold.

Institutional Investors Weigh In On Aqua Metals

Several institutional investors and hedge funds have recently modified their holdings of AQMS. Boston Partners boosted its holdings in 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 period. Russell Investments Group Ltd. lifted its position in shares of Aqua Metals by 14.4% during the first quarter. Russell Investments Group Ltd. now owns 1,652,999 shares of the business services provider’s stock worth $889,000 after purchasing an additional 208,432 shares in the last quarter. Finally, AWM Investment Company Inc. boosted its stake in shares of Aqua Metals by 100.0% in the first quarter. AWM Investment Company Inc. now owns 1,800,000 shares of the business services provider’s stock valued at $968,000 after purchasing an additional 900,000 shares during the period. Hedge funds and other institutional investors own 21.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AQMS. HC Wainwright dropped their price target on Aqua Metals from $80.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Benchmark dropped their target price on shares of Aqua Metals from $40.00 to $20.00 and set a “speculative buy” rating for the company in a research report on Tuesday, August 6th.

Aqua Metals Trading Down 3.7 %

Shares of Aqua Metals stock opened at $2.07 on Wednesday. Aqua Metals has a twelve month low of $1.92 and a twelve month high of $19.78. The stock has a market cap of $14.12 million, a price-to-earnings ratio of -0.43 and a beta of 1.02. The company has a fifty day moving average price of $3.38 and a 200 day moving average price of $5.67.

Aqua Metals Company Profile

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.