Symbols / AQMS $4.60 +1.55%
AQMS Chart
About
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. Its AquaRefining, a low-emissions and recycling technology that replaces polluting furnaces and hazardous chemicals with electricity-powered electroplating to recover valuable metals and materials from spent batteries. Aqua Metals, Inc. was incorporated in 2014 and is headquartered in Reno, Nevada.
Fundamentals
Scroll to Statements| Sector | Industrials | Industry | Waste Management | Market Cap | 13.71M |
| Enterprise Value | 10.46M | Income | -25.65M | Sales | — |
| Book/sh | 3.53 | Cash/sh | 1.20 | Dividend Yield | — |
| Payout | 0.00% | Employees | 11 | IPO | — |
| P/E | — | Forward P/E | -2.88 | PEG | — |
| P/S | — | P/B | 1.30 | P/C | — |
| EV/EBITDA | -0.83 | EV/Sales | — | Quick Ratio | 1.04 |
| Current Ratio | 1.15 | Debt/Eq | 7.97 | LT Debt/Eq | — |
| EPS (ttm) | -27.92 | EPS next Y | -1.60 | EPS Growth | — |
| Revenue Growth | — | Earnings | 2026-03-30 | ROA | -44.22% |
| ROE | -187.08% | ROIC | — | Gross Margin | 0.00% |
| Oper. Margin | 0.00% | Profit Margin | 0.00% | Shs Outstand | 2.98M |
| Shs Float | 2.66M | Short Float | 12.46% | Short Ratio | 4.07 |
| Short Interest | — | 52W High | 39.40 | 52W Low | 3.37 |
| Beta | -0.01 | Avg Volume | 301.09K | Volume | 13.60K |
| Target Price | $12.00 | Recom | None | Prev Close | $4.53 |
| Price | $4.60 | Change | 1.55% |
Valuation Models
Price estimates from analyst targets and simple models.
1. Analyst consensus
$12.00
Mean price target
2. Current target
$4.60
Latest analyst target
3. DCF / Fair value
$-39.04
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$4.60
Low
$12.00
High
$12.00
Mean
$12.00
Latest analyst rating changes
| Date | Action | Analyst | Rating Change | Price Target |
|---|---|---|---|---|
| 2025-10-23 | main | Benchmark | Speculative Buy → Speculative Buy | $12 |
| 2025-04-02 | reit | Benchmark | Speculative Buy → Speculative Buy | $3 |
| 2024-08-06 | main | HC Wainwright & Co. | Buy → Buy | $2 |
| 2024-08-06 | main | Benchmark | Speculative Buy → Speculative Buy | $1 |
| 2024-05-16 | reit | HC Wainwright & Co. | Buy → Buy | $4 |
| 2024-05-16 | reit | Benchmark | Buy → Buy | $2 |
| 2024-03-28 | reit | Benchmark | Speculative Buy → Speculative Buy | $2 |
| 2024-03-28 | reit | HC Wainwright & Co. | Buy → Buy | $4 |
| 2024-03-15 | init | Benchmark | — → Speculative Buy | $2 |
| 2023-08-10 | down | Oppenheimer | Outperform → Perform | — |
| 2023-08-10 | reit | HC Wainwright & Co. | Buy → Buy | $4 |
| 2021-03-05 | init | HC Wainwright & Co. | — → Buy | $8 |
| 2019-12-03 | down | Alliance Global Partners | Buy → Hold | — |
| 2017-06-22 | init | Rodman & Renshaw | — → Buy | $25 |
| 2017-02-16 | init | National Securities Corporation | — → Buy | — |
| 2015-10-22 | init | Oppenheimer | — → Outperform | — |
| 2015-10-21 | init | Oppenheimer | — → Outperform | $12 |
- Recycled nickel and lithium deal targets a cleaner U.S. battery supply chain - Stock Titan Wed, 21 Jan 2026 08
- This Metals Stock Just Doubled. Should You Buy It Here? - Yahoo Finance ue, 14 Oct 2025 07
- Why Did Aqua Metals Stock Jump Over 9% In Pre-Market Trading? - Sahm hu, 16 Oct 2025 07
- Aqua Metals stock soars after securing multi-year supply deal with 6K Energy - Investing.com Wed, 21 Jan 2026 08
- AQMS Sees PT Raised to $12 by Benchmark | AQMS Stock News - GuruFocus hu, 23 Oct 2025 07
- Aqua Metals, Inc. Raises $13 Million Through Registered Direct Offering and Private Placement - Quiver Quantitative Wed, 15 Oct 2025 07
- Benchmark Maintains Aqua Metals (AQMS) Speculative Buy Recommendation - Nasdaq hu, 23 Oct 2025 07
- Morning Market Movers: ELAB, GWAV, AQMS, CRML See Big Swings - RTTNews ue, 14 Oct 2025 07
- Aqua Metals (AQMS) Set to Explode on Battery-Recycling Breakthroughs? Insider Report Shakes EV Supply Chains - TechStock² ue, 14 Oct 2025 07
- Aqua Metals Faces Market Challenges Amid Industry Dynamics - StocksToTrade Wed, 21 Jan 2026 08
- Aqua Metals Inc (AQMS) Q3 2025 Earnings Call Highlights: Strategic Advances and Market Challenges - Yahoo Finance Wed, 12 Nov 2025 08
- Aqua Metals (AQMS) CFO reports tax-withholding share disposition - Stock Titan hu, 26 Feb 2026 08
- Aqua Metals Sets 1-for-10 Reverse Stock Split - Nasdaq hu, 31 Jul 2025 07
- Aqua Metals raises $13 million through registered direct offering - Investing.com Wed, 15 Oct 2025 07
- Aqua Metals Inc (AQMS) Q2 2025 Earnings Call Highlights: Achieving Milestones in Lithium ... - Yahoo Finance hu, 14 Aug 2025 07
Insider Transactions
| Date | Shares | Value | Url | Text | Insider | Position | Transaction | Start Date | Ownership |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 23306 | 110004.0 | — | Stock Award(Grant) at price 4.72 per share. | TAECKER BENJAMIN S. | Chief Operating Officer | — | 2026-02-13 00:00:00 | D |
| 1 | 28390 | 134001.0 | — | Stock Award(Grant) at price 4.72 per share. | WEST ERIC | Chief Financial Officer | — | 2026-02-13 00:00:00 | D |
| 2 | 79873 | 377001.0 | — | Stock Award(Grant) at price 4.72 per share. | COTTON STEPHEN | Chief Executive Officer | — | 2026-02-13 00:00:00 | D |
| 3 | 14749 | — | — | Stock Award(Grant) at price 0.00 per share. | COTTON STEPHEN | Chief Executive Officer | — | 2025-12-18 00:00:00 | D |
| 4 | 11250 | — | — | Stock Award(Grant) at price 0.00 per share. | COTTON STEPHEN | Chief Executive Officer | — | 2025-09-19 00:00:00 | D |
| 5 | 14238 | 56240.0 | — | Stock Award(Grant) at price 3.95 per share. | TAECKER BENJAMIN S. | Officer | — | 2025-08-19 00:00:00 | D |
| 6 | 17179 | 67857.0 | — | Stock Award(Grant) at price 3.95 per share. | WEST ERIC | Chief Financial Officer | — | 2025-08-19 00:00:00 | D |
| 7 | 46824 | 184955.0 | — | Stock Award(Grant) at price 3.95 per share. | COTTON STEPHEN | Chief Executive Officer | — | 2025-08-19 00:00:00 | D |
| 8 | 43478 | nan | — | — | ZHANG MOLLY PEIFANG | Director | — | 2025-05-06 00:00:00 | D |
| 9 | 54347 | nan | — | — | HENDERSON STEVEN K. | Director | — | 2025-05-06 00:00:00 | D |
Financials
| Line Item | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| TaxEffectOfUnusualItems | -753.27K | 0.00 | 1.70 | -292.68K |
| TaxRateForCalcs | 0.21 | 0.00 | 0.00 | 0.27 |
| NormalizedEBITDA | -19.12M | -17.22M | -14.26M | -15.77M |
| TotalUnusualItems | -3.59M | -4.83M | 17.00K | -1.08M |
| TotalUnusualItemsExcludingGoodwill | -3.59M | -4.83M | 17.00K | -1.08M |
| NetIncomeFromContinuingOperationNetMinorityInterest | -24.55M | -23.94M | -15.43M | -18.19M |
| ReconciledDepreciation | 1.27M | 1.27M | 1.06M | 1.32M |
| ReconciledCostOfRevenue | 7.21M | 6.28M | 3.96M | 7.02M |
| EBITDA | -22.70M | -22.05M | -14.24M | -16.85M |
| EBIT | -23.98M | -23.32M | -15.30M | -18.17M |
| NetInterestIncome | -198.00K | 526.00K | 137.00K | 358.00K |
| InterestExpense | 574.00K | 621.00K | 125.00K | 21.00K |
| InterestIncome | 376.00K | 1.15M | 262.00K | 379.00K |
| NormalizedIncome | -21.72M | -19.11M | -15.45M | -17.40M |
| NetIncomeFromContinuingAndDiscontinuedOperation | -24.55M | -23.94M | -15.43M | -18.19M |
| TotalExpenses | 20.77M | 19.66M | 15.59M | 17.64M |
| TotalOperatingIncomeAsReported | -23.85M | -24.46M | -15.57M | -17.46M |
| DilutedAverageShares | 641.96K | 469.66K | 379.06K | 350.01K |
| BasicAverageShares | 641.96K | 469.66K | 379.06K | 350.01K |
| DilutedEPS | -38.30 | -51.00 | -40.00 | -52.00 |
| BasicEPS | -38.30 | -51.00 | -40.00 | -52.00 |
| DilutedNIAvailtoComStockholders | -24.55M | -23.94M | -15.43M | -18.19M |
| NetIncomeCommonStockholders | -24.55M | -23.94M | -15.43M | -18.19M |
| NetIncome | -24.55M | -23.94M | -15.43M | -18.19M |
| NetIncomeIncludingNoncontrollingInterests | -24.55M | -23.94M | -15.43M | -18.19M |
| NetIncomeContinuousOperations | -24.55M | -23.94M | -15.43M | -18.19M |
| TaxProvision | 3.00K | 0.00 | 2.00K | 2.00K |
| PretaxIncome | -24.55M | -23.94M | -15.43M | -18.19M |
| OtherIncomeExpense | -3.59M | -4.83M | 17.00K | -1.08M |
| SpecialIncomeCharges | -3.08M | -4.83M | 17.00K | -1.08M |
| GainOnSaleOfPPE | -440.00K | 23.00K | 596.00K | -5.67M |
| OtherSpecialCharges | -5.13M | |||
| WriteOff | 2.64M | 4.85M | 579.00K | 545.00K |
| ImpairmentOfCapitalAssets | 2.64M | 4.85M | 579.00K | 545.00K |
| GainOnSaleOfSecurity | -507.00K | |||
| NetNonOperatingInterestIncomeExpense | -198.00K | 526.00K | 137.00K | 358.00K |
| InterestExpenseNonOperating | 574.00K | 621.00K | 125.00K | 21.00K |
| InterestIncomeNonOperating | 376.00K | 1.15M | 262.00K | 379.00K |
| OperatingIncome | -20.77M | -19.64M | -15.58M | -17.46M |
| OperatingExpense | 13.55M | 13.38M | 11.63M | 10.62M |
| ResearchAndDevelopment | 1.59M | 1.74M | 1.81M | 933.00K |
| SellingGeneralAndAdministration | 11.97M | 11.64M | 9.81M | 9.69M |
| GeneralAndAdministrativeExpense | 11.97M | 11.64M | 9.81M | 9.69M |
| OtherGandA | 11.97M | 11.64M | 9.81M | 9.69M |
| GrossProfit | -7.21M | -6.26M | -3.96M | -6.84M |
| CostOfRevenue | 7.21M | 6.28M | 3.96M | 7.02M |
| TotalRevenue | 0.00 | 25.00K | 4.00K | 173.00K |
| OperatingRevenue | 0.00 | 25.00K | 4.00K | 173.00K |
| Line Item | 2024-12-31 | 2023-12-31 | ||
|---|---|---|---|---|
| TreasurySharesNumber | 2.94K | 2.14K | ||
| OrdinarySharesNumber | 773.08K | 539.40K | 397.41K | 352.08K |
| ShareIssued | 776.02K | 541.54K | 397.41K | 352.08K |
| TotalDebt | 4.27M | 3.23M | 6.48M | 718.00K |
| TangibleBookValue | 16.10M | 25.78M | 20.45M | 26.89M |
| InvestedCapital | 19.78M | 29.02M | 26.82M | 27.53M |
| WorkingCapital | -3.54M | 13.69M | 10.90M | 8.36M |
| NetTangibleAssets | 16.10M | 25.78M | 20.45M | 26.89M |
| CapitalLeaseObligations | 735.00K | 275.00K | 582.00K | 718.00K |
| CommonStockEquity | 16.24M | 26.06M | 20.92M | 27.53M |
| TotalCapitalization | 16.24M | 28.99M | 20.92M | 27.53M |
| TotalEquityGrossMinorityInterest | 16.24M | 26.06M | 20.92M | 27.53M |
| StockholdersEquity | 16.24M | 26.06M | 20.92M | 27.53M |
| TreasuryStock | 192.00K | 516.00K | 0.00 | |
| RetainedEarnings | -247.77M | -223.22M | -199.28M | -183.85M |
| AdditionalPaidInCapital | 264.20M | 249.79M | 220.11M | 211.31M |
| CapitalStock | 8.00K | 5.00K | 79.00K | 70.00K |
| CommonStock | 8.00K | 5.00K | 79.00K | 70.00K |
| TotalLiabilitiesNetMinorityInterest | 10.12M | 7.54M | 12.59M | 5.74M |
| TotalNonCurrentLiabilitiesNetMinorityInterest | 1.94M | 2.92M | 275.00K | 1.66M |
| OtherNonCurrentLiabilities | 1.33M | |||
| DerivativeProductLiabilities | 1.49M | 0.00 | ||
| LongTermDebtAndCapitalLeaseObligation | 446.00K | 2.92M | 275.00K | 330.00K |
| LongTermCapitalLeaseObligation | 446.00K | 0.00 | 275.00K | 330.00K |
| LongTermDebt | 2.92M | |||
| CurrentLiabilities | 8.18M | 4.61M | 12.31M | 4.08M |
| OtherCurrentLiabilities | 3.25M | |||
| CurrentDebtAndCapitalLeaseObligation | 3.83M | 310.00K | 6.21M | 388.00K |
| CurrentCapitalLeaseObligation | 289.00K | 275.00K | 307.00K | 388.00K |
| CurrentDebt | 3.54M | 35.00K | 5.90M | |
| OtherCurrentBorrowings | 3.23M | 35.00K | 5.90M | |
| CurrentNotesPayable | 306.00K | 0.00 | 5.90M | 0.00 |
| PayablesAndAccruedExpenses | 4.36M | 4.30M | 2.85M | 3.69M |
| CurrentAccruedExpenses | 3.13M | 2.47M | 1.78M | 3.00M |
| Payables | 1.23M | 1.84M | 1.07M | 685.00K |
| AccountsPayable | 1.23M | 1.84M | 1.07M | 685.00K |
| TotalAssets | 26.36M | 33.60M | 33.50M | 33.27M |
| TotalNonCurrentAssets | 21.72M | 15.30M | 10.29M | 20.83M |
| OtherNonCurrentAssets | 20.00K | 160.00K | 20.00K | 65.00K |
| NonCurrentPrepaidAssets | 4.54M | 4.29M | 6.00K | 217.00K |
| NonCurrentAccountsReceivable | 15.53M | |||
| InvestmentsAndAdvances | 0.00 | 2.00M | 1.50M | |
| LongTermEquityInvestment | 0.00 | 2.00M | 1.50M | |
| InvestmentsInOtherVenturesUnderEquityMethod | 0.00 | 2.00M | 1.50M | |
| GoodwillAndOtherIntangibleAssets | 146.00K | 281.00K | 461.00K | 640.00K |
| OtherIntangibleAssets | 146.00K | 281.00K | 461.00K | 640.00K |
| NetPPE | 17.02M | 10.57M | 7.81M | 2.88M |
| AccumulatedDepreciation | -2.48M | -1.63M | -1.49M | -1.13M |
| GrossPPE | 19.49M | 12.20M | 9.30M | 4.01M |
| Leases | 80.00K | 80.00K | 80.00K | 0.00 |
| ConstructionInProgress | 9.73M | 3.05M | 6.49M | 1.33M |
| OtherProperties | 5.22M | 4.62M | 2.64M | 2.58M |
| MachineryFurnitureEquipment | 194.00K | 179.00K | 96.00K | 99.00K |
| BuildingsAndImprovements | 3.13M | 3.13M | 0.00 | 0.00 |
| LandAndImprovements | 1.14M | 1.14M | 0.00 | 0.00 |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 |
| CurrentAssets | 4.64M | 18.30M | 23.21M | 12.44M |
| OtherCurrentAssets | 214.00K | 181.00K | 263.00K | 356.00K |
| AssetsHeldForSaleCurrent | 0.00 | 47.00K | 2.63M | |
| PrepaidAssets | 263.00K | 356.00K | ||
| Inventory | 251.00K | 929.00K | 278.00K | 123.00K |
| FinishedGoods | 0.00 | 28.00K | 28.00K | |
| WorkInProcess | 0.00 | 135.00K | 0.00 | 9.00K |
| RawMaterials | 251.00K | 794.00K | 250.00K | 86.00K |
| Receivables | 100.00K | 667.00K | 15.54M | 1.19M |
| OtherReceivables | 15.53M | 920.00K | ||
| NotesReceivable | 100.00K | 600.00K | 0.00 | |
| AccountsReceivable | 0.00 | 67.00K | 12.00K | 269.00K |
| CashCashEquivalentsAndShortTermInvestments | 4.08M | 16.52M | 7.08M | 8.14M |
| CashAndCashEquivalents | 4.08M | 16.52M | 7.08M | 8.14M |
| Line Item | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| FreeCashFlow | -25.79M | -13.08M | -14.92M | -9.41M |
| RepaymentOfDebt | -72.00K | -6.00M | 0.00 | 0.00 |
| IssuanceOfDebt | 1.50M | 2.93M | 5.89M | 0.00 |
| IssuanceOfCapitalStock | 12.32M | 26.73M | 6.52M | 10.17M |
| CapitalExpenditure | -12.16M | -9.88M | -4.77M | -2.35M |
| InterestPaidSupplementalData | 333.00K | 480.00K | 84.00K | 21.00K |
| IncomeTaxPaidSupplementalData | 3.00K | 0.00 | 2.00K | 2.00K |
| EndCashPosition | 4.08M | 16.52M | 7.08M | 8.14M |
| BeginningCashPosition | 16.52M | 7.08M | 8.14M | 6.53M |
| ChangesInCash | -12.44M | 9.44M | -1.05M | 1.60M |
| FinancingCashFlow | 12.82M | 22.45M | 12.51M | 10.89M |
| CashFlowFromContinuingFinancingActivities | 12.82M | 22.45M | 12.51M | 10.89M |
| NetOtherFinancingCharges | -977.00K | -1.23M | 10.17M | |
| ProceedsFromStockOptionExercised | 54.00K | 14.00K | 108.00K | 728.00K |
| NetCommonStockIssuance | 12.32M | 26.73M | 6.52M | 10.17M |
| CommonStockIssuance | 12.32M | 26.73M | 6.52M | 10.17M |
| NetIssuancePaymentsOfDebt | 1.43M | -3.07M | 5.89M | 0.00 |
| NetShortTermDebtIssuance | 1.50M | 0.00 | 5.89M | 0.00 |
| ShortTermDebtIssuance | 1.50M | 0.00 | 5.89M | 0.00 |
| NetLongTermDebtIssuance | -72.00K | -3.07M | 5.89M | 553.00K |
| LongTermDebtPayments | -72.00K | -6.00M | 0.00 | 0.00 |
| LongTermDebtIssuance | 0.00 | 2.93M | 5.89M | 553.00K |
| InvestingCashFlow | -11.64M | -9.81M | -3.42M | -2.23M |
| CashFlowFromContinuingInvestingActivities | -11.64M | -9.81M | -3.42M | -2.23M |
| NetOtherInvestingChanges | 500.00K | |||
| NetBusinessPurchaseAndSale | 0.00 | -500.00K | -232.00K | |
| PurchaseOfBusiness | 0.00 | -500.00K | -232.00K | |
| NetPPEPurchaseAndSale | -12.14M | -9.81M | -2.92M | -2.00M |
| SaleOfPPE | 22.00K | 70.00K | 1.85M | 354.00K |
| PurchaseOfPPE | -12.16M | -9.88M | -4.77M | -2.35M |
| OperatingCashFlow | -13.63M | -3.19M | -10.15M | -7.06M |
| CashFlowFromContinuingOperatingActivities | -13.63M | -3.19M | -10.15M | -7.06M |
| ChangeInWorkingCapital | 2.21M | -583.00K | 1.01M | 808.00K |
| ChangeInOtherWorkingCapital | -130.00K | -307.00K | -497.00K | -508.00K |
| ChangeInPayablesAndAccruedExpense | 1.91M | 348.00K | 1.45M | 386.00K |
| ChangeInAccruedExpense | 1.93M | 209.00K | 1.43M | 378.00K |
| ChangeInPayable | -21.00K | 139.00K | 22.00K | 8.00K |
| ChangeInAccountPayable | -21.00K | 139.00K | 22.00K | 8.00K |
| ChangeInPrepaidAssets | -33.00K | 82.00K | 93.00K | 345.00K |
| ChangeInInventory | 396.00K | -651.00K | -155.00K | 822.00K |
| ChangeInReceivables | 67.00K | -55.00K | 120.00K | -237.00K |
| ChangesInAccountReceivables | 67.00K | -55.00K | 120.00K | -237.00K |
| OtherNonCashItems | 1.12M | 12.51M | 973.00K | 924.00K |
| StockBasedCompensation | 2.74M | 2.53M | 2.25M | 2.20M |
| AssetImpairmentCharge | 2.64M | 4.85M | 579.00K | 545.00K |
| DepreciationAmortizationDepletion | 1.27M | 1.27M | 1.06M | 1.32M |
| DepreciationAndAmortization | 1.27M | 1.27M | 1.06M | 1.32M |
| AmortizationCashFlow | 135.00K | 180.00K | 179.00K | 180.00K |
| AmortizationOfIntangibles | 135.00K | 180.00K | 179.00K | 180.00K |
| Depreciation | 1.14M | 1.09M | 882.00K | 1.14M |
| OperatingGainsLosses | 947.00K | 158.00K | -596.00K | 5.33M |
| GainLossOnInvestmentSecurities | 507.00K | 181.00K | ||
| GainLossOnSaleOfPPE | 440.00K | -23.00K | -596.00K | 5.67M |
| NetIncomeFromContinuingOperations | -24.55M | -23.94M | -15.43M | -18.19M |
SEC Filings
Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.
Public Trades for AQMS
| Date | User | Broker | Pattern | Type | Position Size | Entry Price | Trade P&L | Status |
|---|