Aqua Metals, Inc. (AQMS)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Aqua Metals, Inc. (AQMS) trades at $2.97 with AI Score 24/100 (Grade F). Aqua Metals, Inc. focuses on lead recycling in the United States, aiming to revolutionize the industry through its AquaRefining technology. Market cap: $9.99M, Sector: Industrials.
Price live · AI analysis from May 4, 2026AQMS stock analysis for 2026: Analysts have set a consensus price target of $12.00 for Aqua Metals, Inc., suggesting 304.0% upside from the current price of $2.97. The AI MoonshotScore is 24/100, indicating a strong bearish outlook. Key factors: analyst coverage, AI-driven quantitative scoring.
AQMS: 1/1 perspectives are bearish.
How is this calculated? →Aqua Metals, Inc. (AQMS) Industrial Operations Profile
Aqua Metals, Inc., established in 2014, operates within the waste management sector, specializing in lead recycling in the United States. The company produces and sells hard lead, lead compounds, and plastics, striving to innovate the lead recycling process through its proprietary AquaRefining technology.
What Is the Investment Thesis for AQMS?
Aqua Metals presents an investment opportunity centered on its innovative AquaRefining technology and its potential to disrupt the traditional lead recycling market. The company's focus on environmentally friendly recycling processes aligns with increasing regulatory pressures and growing demand for sustainable solutions. A key value driver is the scalability of the AquaRefining technology, which could enable Aqua Metals to expand its production capacity and market reach. Upcoming catalysts include potential partnerships with battery manufacturers and expansions into new geographic markets. However, investors may want to evaluate the risks associated with the company's relatively small market capitalization of $9.99M and the challenges of scaling a novel technology in a competitive industry.
Based on FMP financials and quantitative analysis
AQMS Key Highlights
- Aqua Metals, Inc. specializes in lead recycling, focusing on the production and sale of hard lead, lead compounds, and plastics.
- The company's AquaRefining technology aims to offer a cleaner and more efficient alternative to traditional lead recycling methods.
- Aqua Metals is headquartered in Reno, Nevada, and operates primarily within the United States.
- The company's market capitalization is $0.01 billion, reflecting its position as a smaller player in the waste management sector.
- Aqua Metals does not currently offer a dividend, aligning with its focus on reinvesting earnings to support growth initiatives.
Who Are AQMS's Competitors?
AQMS is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| CECE CECO Environmental Corp. | $11.65 | +2.19% | $400.99M | 51 |
| ECLMF Ecolomondo Corporation | $0.08 | -0.00% | $17.55M | 63 |
| VCIGF Vitreous Glass Inc. | $4.61 | +0.00% | $29.31M | 56 |
| YDDL One and one Green Technologies. Inc | $2.11 | +1.00% | $96.74M | 56 |
| SCPJ Scope Industries | $325.00 | +8.33% | $297.71M | 55 |
| HUIPF Hydrogen Utopia International PLC | $0.04 | +0.00% | $17.05M | 45 |
| MBRFF Mo-BRUK S.A. | $75.00 | +8.30% | $263.47M | 45 |
| GFL GFL Environmental Inc. | $40.50 | +8.06% | $14.14B | 45 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are AQMS's Key Strengths?
- Innovative AquaRefining technology.
- Environmentally friendly recycling process.
- Potential for strategic partnerships.
- Scalable technology.
What Are AQMS's Weaknesses?
- Small market capitalization.
- Limited operational history.
- Dependence on a single technology.
- Competition from established smelters.
What Could Drive AQMS Stock Higher?
- Potential partnerships with battery manufacturers to secure a consistent supply of spent lead-acid batteries.
- Expansion of AquaRefining capacity to meet the growing demand for recycled lead.
- Securing government incentives and funding to support growth initiatives.
- Development of new applications for AquaRefining technology beyond lead-acid battery recycling.
What Are the Key Risks for AQMS?
- Financial-distress signal — its Altman Z-Score of -23.92 sits in the distress zone (elevated bankruptcy risk).
- Weak fundamentals — a Piotroski F-Score of 2/9 flags soft profitability, leverage or efficiency.
- Fluctuations in lead prices could impact the company's profitability.
- Changes in environmental regulations could increase compliance costs.
- Competition from traditional smelters with established market positions.
- Technological obsolescence if AquaRefining technology becomes outdated.
- Dependence on a single technology makes the company vulnerable to disruptions.
What Are the Growth Opportunities for AQMS?
- Growth opportunity 1: Expansion of AquaRefining Capacity: Aqua Metals has the opportunity to expand its AquaRefining capacity to meet the growing demand for recycled lead. By increasing its production capabilities, the company can capitalize on the increasing need for sustainable lead recycling solutions. This expansion could involve building new facilities or partnering with existing recycling plants to implement the AquaRefining technology. The timeline for this expansion could be within the next 2-3 years, contingent on securing additional funding and partnerships. The global lead recycling market is estimated to be worth billions of dollars, providing a substantial market opportunity for Aqua Metals.
- Growth opportunity 2: Strategic Partnerships with Battery Manufacturers: Aqua Metals can forge strategic partnerships with battery manufacturers to secure a consistent supply of spent lead-acid batteries and create a closed-loop recycling system. These partnerships can ensure a steady stream of feedstock for AquaRefining and enable Aqua Metals to integrate its technology into the battery manufacturing supply chain. The timeline for establishing these partnerships could be within the next 1-2 years. The market for lead-acid batteries is substantial, driven by the automotive and energy storage sectors, creating a significant opportunity for Aqua Metals to collaborate with key industry players.
- Growth opportunity 3: Geographic Expansion into New Markets: Aqua Metals has the potential to expand its operations into new geographic markets, particularly in regions with stringent environmental regulations and a high demand for recycled lead. This expansion could involve establishing AquaRefining facilities in Europe or Asia, where the need for sustainable lead recycling solutions is growing. The timeline for this geographic expansion could be within the next 3-5 years, contingent on securing regulatory approvals and establishing local partnerships. The global market for lead recycling is expanding, offering Aqua Metals the opportunity to diversify its operations and increase its market share.
- Growth opportunity 4: Development of New Applications for AquaRefining Technology: Aqua Metals can explore new applications for its AquaRefining technology beyond lead-acid battery recycling. This could involve adapting the technology to recycle other metals or developing new processes for recovering valuable materials from industrial waste streams. The timeline for developing these new applications could be within the next 2-4 years, contingent on research and development efforts. The market for metal recycling is vast, providing Aqua Metals with the opportunity to leverage its technology to address a wider range of environmental challenges.
- Growth opportunity 5: Securing Government Incentives and Funding: Aqua Metals can pursue government incentives and funding opportunities to support its growth initiatives. Many governments offer grants and tax credits for companies that promote sustainable recycling practices and develop innovative environmental technologies. By securing these incentives, Aqua Metals can reduce its capital costs and accelerate its expansion plans. The timeline for securing government funding is ongoing, as the company continuously seeks opportunities to leverage government support. The availability of government funding for environmental initiatives is significant, providing Aqua Metals with a valuable source of capital.
What Opportunities Does AQMS Have?
- Expansion of AquaRefining capacity.
- Geographic expansion into new markets.
- Development of new applications for AquaRefining technology.
- Securing government incentives and funding.
What Threats Does AQMS Face?
- Fluctuations in lead prices.
- Changes in environmental regulations.
- Competition from traditional smelters.
- Technological obsolescence.
What Are AQMS's Competitive Advantages?
- Proprietary AquaRefining technology offers a cleaner and more efficient alternative to traditional lead recycling methods.
- Focus on environmentally sustainable practices aligns with increasing regulatory pressures and customer demand for green solutions.
- Potential for strategic partnerships with battery manufacturers to create a closed-loop recycling system.
- Scalability of AquaRefining technology enables expansion of production capacity and market reach.
What Does AQMS Do?
Aqua Metals, Inc., founded in 2014 and headquartered in Reno, Nevada, is dedicated to revolutionizing lead recycling. The company operates within the industrials sector, specifically focusing on waste management. Aqua Metals engages in the recycling of lead, primarily in the United States, producing and selling hard lead, lead compounds, and plastics. Their core mission revolves around deploying their patented AquaRefining technology, which offers a cleaner and more efficient alternative to traditional lead recycling methods. The AquaRefining process is designed to minimize environmental impact while maximizing the recovery of valuable materials from spent lead-acid batteries. This technology differentiates Aqua Metals from traditional smelters, which often face stricter environmental regulations and higher operational costs. The company's products, including hard lead, lead compounds, and plastics, serve various industries, contributing to a circular economy by repurposing materials that would otherwise become waste. Aqua Metals aims to expand its operations and partnerships to increase its market share in the lead recycling industry, promoting sustainable practices and resource conservation.
What Products and Services Does AQMS Offer?
- Recycles lead from spent lead-acid batteries.
- Produces hard lead for various industrial applications.
- Manufactures lead compounds used in different sectors.
- Processes and sells plastics recovered from recycled batteries.
- Employs AquaRefining technology for cleaner lead recycling.
- Focuses on sustainable and environmentally friendly recycling practices.
How Does AQMS Make Money?
- Recycles spent lead-acid batteries to recover valuable materials.
- Sells recycled hard lead, lead compounds, and plastics to various industries.
- Generates revenue through the sale of recycled materials.
- Focuses on environmentally sustainable recycling practices to attract customers and investors.
What Industry Does AQMS Operate In?
Aqua Metals operates in the waste management industry, specifically within the lead recycling segment. The industry is characterized by increasing environmental regulations and a growing emphasis on sustainable practices. Traditional lead recycling methods, such as smelting, face challenges related to emissions and environmental impact. Aqua Metals' AquaRefining technology positions it to capitalize on the demand for cleaner and more efficient recycling solutions. The competitive landscape includes established smelters and other recycling companies, but Aqua Metals aims to differentiate itself through its innovative technology and environmentally friendly approach. The global lead recycling market is expected to grow, driven by the increasing demand for lead-acid batteries and the need for responsible end-of-life management.
Who Are AQMS's Key Customers?
- Battery manufacturers who require recycled lead for new battery production.
- Chemical companies that use lead compounds in their products.
- Industrial companies that utilize hard lead in their operations.
- Plastic manufacturers who repurpose recycled plastics.
Company Profile
Aqua Metals, Inc. operates in the Waste Management industry within the Industrials sector. It is headquartered in Reno, US. The company is led by CEO Stephen Cotton. AQMS has traded publicly since 2015.
How Aqua Metals, Inc. Is Valued
Aqua Metals, Inc. carries a market capitalization of $9.99M, placing it in the micro-cap category. Relative to its peer group, AQMS's quantitative score of 24/100 is below the peer average of 56/100.
Key Financial Metrics
Its free cash flow yield is -85.3%, a gauge of the cash the business throws off relative to its market value. A current ratio of 3.07 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -138.3%, the inverse of the P/E and a quick read on earnings relative to price.
F-Score 2/9Financial Health
Aqua Metals, Inc.'s Piotroski F-Score is 2/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny. Its Altman Z-Score of -23.92 places it in the distress zone, a signal of elevated financial risk.
FY2026 estForward Outlook
Wall Street analysts project Aqua Metals, Inc. revenue of about $7.8M for fiscal 2026, with EPS near $-24.00.
AQMS Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Aqua Metals' recent insider buying suggests confidence from those closest to the company's operations, potentially signaling positive future performance. Think of it like when Elon Musk bought Tesla shares during periods of doubt, reassuring investors.
- Community sentiment seems to be leaning bullish, with many discussing potential benefits from their recycling technology as environmental concerns grow. This reminds me of the early buzz around renewable energy stocks.
- The company's focus on sustainable battery recycling aligns with increasing regulatory pressure and consumer demand for eco-friendly solutions. This could position them favorably in the long run.
- Recent market developments indicate a growing need for battery recycling as EV adoption accelerates, potentially boosting demand for Aqua Metals' services. It's like the gold rush for lithium, but for recycling.
Bear Case
- Despite positive sentiment, Aqua Metals has faced challenges in scaling its operations and achieving consistent profitability. It's reminiscent of some early-stage tech companies struggling to meet high expectations.
- Community discussions also reveal concerns about the company's past financial performance and history of losses, creating skepticism among some investors. This is similar to how investors viewed certain companies during the dot-com bubble burst.
- Market perception of Aqua Metals is still heavily influenced by its small size and limited market share in a competitive industry. It's a David vs. Goliath situation.
- Recent insider selling activity (if any) could offset the bullish signals from insider buying, raising questions about the long-term outlook. It's crucial to consider both sides of the coin, like during the Enron scandal when some executives sold shares before the collapse.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · April 2026
AQMS Latest News
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Aqua Metals to Participate in NAATBatt 2026 Recycling & Lifecycle Management Workshop
GlobeNewswire · Jun 30, 2026
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12 Industrials Stocks Moving In Monday's Pre-Market Session
benzinga · Jun 29, 2026
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Shares of companies in the broader industrial sector are trading higher as easing US-Iran peace framework drove oil prices sharply lower, lifting sentiment across industrial names.
Benzinga · Jun 15, 2026
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11 Industrials Stocks Moving In Monday's Intraday Session
benzinga · Jun 15, 2026
AQMS Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for AQMS.
Price Targets
Consensus target: $12.00
AQMS MoonshotScore
What does this score mean?
The MoonshotScore rates AQMS's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Classification
Industry Waste ManagementLatest News
Aqua Metals to Participate in NAATBatt 2026 Recycling & Lifecycle Management Workshop
12 Industrials Stocks Moving In Monday's Pre-Market Session
Shares of companies in the broader industrial sector are trading higher as easing US-Iran peace framework drove oil prices sharply lower, lifting sentiment across industrial names.
11 Industrials Stocks Moving In Monday's Intraday Session
Latest Aqua Metals, Inc. Analysis
Leadership: Stephen Cotton
CEO
Stephen Cotton serves as the CEO of Aqua Metals, Inc. His background includes extensive experience in the technology and manufacturing sectors. Prior to joining Aqua Metals, Cotton held leadership positions at various companies, focusing on operational efficiency and strategic growth. He brings a wealth of knowledge in scaling innovative technologies and managing complex industrial processes. Cotton's expertise is crucial for guiding Aqua Metals through its expansion phase and establishing its AquaRefining technology as a leading solution in the lead recycling industry.
Track Record: Under Stephen Cotton's leadership, Aqua Metals has focused on refining its AquaRefining technology and establishing strategic partnerships. Key milestones include securing funding for expansion and improving the efficiency of the recycling process. Cotton has also emphasized the importance of environmental sustainability and regulatory compliance, positioning Aqua Metals as a responsible and innovative player in the waste management sector.
AQMS Industrials Stock FAQ
What does Aqua Metals, Inc. do?
Aqua Metals, Inc. is a lead recycling company that utilizes its proprietary AquaRefining technology to recycle lead from spent lead-acid batteries. The company produces and sells recycled hard lead, lead compounds, and plastics to various industries. Aqua Metals focuses on providing a cleaner and more efficient alternative to traditional lead recycling methods, contributing to a more sustainable and circular economy. Their AquaRefining technology aims to minimize environmental impact while maximizing the recovery of valuable materials.
What do analysts say about AQMS stock?
Analyst coverage of Aqua Metals, Inc. (AQMS) is limited, reflecting its small market capitalization and relatively early stage of development. Key valuation metrics to consider include revenue growth, gross margin, and cash flow. Investors should monitor the company's progress in scaling its AquaRefining technology and securing partnerships with battery manufacturers. Analyst consensus is not readily available due to limited coverage, so investors should conduct their own thorough research and due diligence.
What are the main risks for AQMS?
Aqua Metals faces several risks, including fluctuations in lead prices, which can impact its profitability. Changes in environmental regulations could increase compliance costs and require further investment in its technology. The company also faces competition from established smelters with significant market share. Technological obsolescence is a risk, as newer recycling technologies could emerge. Additionally, Aqua Metals' dependence on a single technology makes it vulnerable to disruptions if the technology faces unforeseen challenges.
How does Aqua Metals, Inc. compare to competitors in its industry?
Aqua Metals differentiates itself from traditional lead smelters through its AquaRefining technology, which offers a cleaner and more efficient recycling process. Unlike traditional smelters that rely on high-temperature processes and can generate significant emissions, AquaRefining uses an electrochemical process to recover lead. This approach aligns with increasing environmental regulations and growing demand for sustainable solutions. While competitors may have larger market shares and established customer relationships, Aqua Metals aims to disrupt the industry with its innovative technology and environmentally friendly approach.
What are the key financial metrics investors watch for AQMS?
Investors monitoring Aqua Metals (AQMS) closely observe several key financial metrics. Revenue growth is crucial, indicating the company's ability to scale its operations and increase sales of recycled lead and related products. Gross margin reflects the efficiency of the AquaRefining process and the company's ability to manage costs. Cash flow is also closely watched, as it indicates the company's ability to fund its operations and invest in future growth. Given its stage, metrics related to production capacity and utilization rates are also important.
What are the key factors to evaluate for AQMS?
Aqua Metals, Inc. (AQMS) holds an AI score of 24/100 (low). Analysts target $12.00 (+304%). Not financial advice.
How frequently does AQMS data refresh on this page?
AQMS prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven AQMS's recent stock price performance?
Aqua Metals, Inc. (AQMS) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Innovative AquaRefining technology. See the News tab for the latest drivers. Past performance does not predict future results.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on available data and may be subject to change.
- Analyst consensus is limited due to limited coverage.