Aqua Metals (NASDAQ:AQMS) Stock Passes Below 50 Day Moving Average – Here’s Why

Aqua Metals, Inc. (NASDAQ:AQMS) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.19 and traded as low as $1.64. Aqua Metals shares last traded at $1.83, with a volume of 64,102 shares trading hands.

Aqua Metals Trading Up 10.2 %

The firm’s 50 day moving average price is $2.19 and its two-hundred day moving average price is $3.40. The company has a market capitalization of $13.05 million, a price-to-earnings ratio of -0.38 and a beta of 1.00.

Hedge Funds Weigh In On Aqua Metals

An institutional investor recently raised its position in Aqua Metals stock. Geode Capital Management LLC lifted its holdings in shares of Aqua Metals, Inc. (NASDAQ:AQMS) by 22.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,341,382 shares of the business services provider’s stock after acquiring an additional 249,266 shares during the quarter. Geode Capital Management LLC owned approximately 19.67% of Aqua Metals worth $251,000 as of its most recent SEC filing. 21.98% of the stock is owned by hedge funds and other institutional investors.

About Aqua Metals

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.