Aqua Metals Gets a Buy Rating from Oppenheimer

Oppenheimer analyst Colin Rusch maintained a Buy rating on Aqua Metals (NASDAQ: AQMS) today and set a price target of $14. The company’s shares closed yesterday at $3.53.

Rusch commented:

“AQMS posted revenue ahead of Street expectations along with a higher cash burn but demonstrated progress on ramping its Aquarefining technology with 24 hour utilization and shipments to JCI. AQMS appears to be stabilizing management with the recent hiring of a new CFO and Steve Cotton returning as President. The company has also augmented its Board of directors with several capable new members. We believe the next steps for the organization are to continue proving the viability of the process to disrupt the lead recycling market and to bring in a new CEO. We remain constructive and reiterate our $14 PT.”

According to TipRanks.com, Rusch is a 5-star analyst with an average return of 14.2% and a 51.2% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Canadian Solar Inc, and Fuelcell Energy.

Aqua Metals has an analyst consensus of Strong Buy, with a price target consensus of $12.67.

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Based on Aqua Metals’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $7.03 million. In comparison, last year the company had a GAAP net loss of $4.89 million.

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Aqua Metals, Inc. engages in the production of recycled lead through an electro-chemical process. It operates through its AquaRefining™ technology. The company Stephen R. Clarke, Thomas Murphy, and Selwyn Mould on June 20, 2014 and is headquartered in Alameda, CA.