Aqua Metals (NASDAQ:AQMS) Posts Quarterly Earnings Results

Aqua Metals (NASDAQ:AQMS) posted its quarterly earnings data on Thursday. The business services provider reported ($1.31) EPS for the quarter, Zacks reports.

Here are the key takeaways from Aqua Metals’ conference call:

• Aqua Metals is advancing its phased Headwaters ARC commercialization plan, beginning with proven mechanical preprocessing for LFP materials and later adding AquaRefining to produce lithium carbonate, iron phosphate, and graphite. Management said the approach is intended to accelerate revenue while reducing capital and technology risk.
• The company is completing diligence on a Midwest site with approximately 150,000 square feet of industrial space and more than 50 acres near six LFP gigafactory projects. Full-campus plans call for approximately 20,000 tons per year of processing capacity, although the project remains subject to financing, permitting, and commercial agreements.
• Management expects several milestones in the second half of 2026, including securing site control, selecting a Phase 1 equipment partner, advancing feedstock and offtake contracts, arranging project-level financing, and moving toward a final investment decision. The company said it will not provide detailed project economics until that decision.
• Aqua Metals ended the quarter with approximately $4.7 million in cash, used about $6.5 million in operating cash during the first half, and raised $581,000 through its ATM in the second quarter. The company remains debt-free but acknowledged prior equity issuance and plans to use corporate equity sparingly, implying continued dilution risk while project financing is arranged.
• The company reported a second-quarter net loss of approximately $4.5 million and recorded an additional $2.1 million non-cash credit-loss provision related to Lion Energy. The allowance now covers about 60% of the approximately $4.2 million gross receivable balance, while Aqua Metals continues pursuing recovery.

Aqua Metals Stock Up 4.0%

Shares of Aqua Metals stock opened at $2.86 on Friday. Aqua Metals has a fifty-two week low of $2.51 and a fifty-two week high of $39.40. The business’s fifty day moving average is $3.15 and its two-hundred day moving average is $4.15. The firm has a market cap of $10.15 million, a PE ratio of -0.26 and a beta of 0.29.

Hedge Funds Weigh In On Aqua Metals

Several institutional investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd purchased a new position in Aqua Metals during the fourth quarter worth about $61,000. Price T Rowe Associates Inc. MD purchased a new stake in Aqua Metals in the 4th quarter valued at about $77,000. Stifel Financial Corp acquired a new position in shares of Aqua Metals during the 4th quarter valued at about $269,000. Geode Capital Management LLC acquired a new position in shares of Aqua Metals during the 4th quarter valued at about $129,000. Finally, Bank of America Corp DE increased its stake in shares of Aqua Metals by 844.5% during the 3rd quarter. Bank of America Corp DE now owns 4,477 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 4,003 shares during the last quarter. 21.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AQMS has been the subject of several analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Aqua Metals in a research note on Friday, July 17th. Benchmark reaffirmed a “speculative buy” rating on shares of Aqua Metals in a research note on Friday, June 12th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Aqua Metals currently has an average rating of “Hold”.

About Aqua Metals

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.