Oppenheimer Reiterates a Buy Rating on Aqua Metals

By Jason Carr

In a report released today, Colin Rusch from Oppenheimer reiterated a Buy rating on Aqua Metals (NASDAQ: AQMS), with a price target of $16. The company’s shares opened today at $10.

Rusch observed:

“AQMS announced a business update and 3Q16 results highlighting the production of first lead and importantly the expectation for a 50% output improvement due to process improvement at its TRIC facility, expected to be fully ramped in early 2017. We continue to believe AQMS has fundamental cost and logistics advantages vs. smelting. We also believe the company has numerous avenues for funding growth, notably customer prepayments and licensing the technology outside the US.”

According to TipRanks.com, Rusch is a 4-star analyst with an average return of 5.8% and a 43.1% success rate. Rusch covers the Technology sector, focusing on stocks such as Trimble Navigation Limited, SolarEdge Technologies, and Ultra Clean Holdings.

Aqua Metals has an analyst consensus of Moderate Buy, with a price target consensus of $16.

The company has a one year high of $13.07 and a one year low of $4.50. Currently, Aqua Metals has an average volume of 104.1K.

Aqua Metals, Inc. engages in the business of producing recycled lead through a proprietary, patent-pending electro-chemical technology. Aqua Metals was founded by Stephen R. Clarke, Thomas Murphy and Selwyn Mould on June 20, 2014 and is headquartered in Alameda, CA.