Aqua Metals, Inc. – Nasdaq: AQMS
At one point today Aqua Metals, Inc. (Nasdaq:AQMS) was up almost 70%. Shares of Aqua Metals, Inc. (Nasdaq:AQMS) ended yesterday at $11.41 but after news of a partnership with Johnson Controls (NYSE: JCI) investors pushed the shares to a high of $16.10. Average daily volume figures for AQMS are short of 200k, but today’s session has already seen over 2 million shares traded with over three hours left in the regular session.
Alameda, CA-based Aqua Metals, Inc. (Nasdaq:AQMS) is a start-up battery recycling company that will utilize proprietary technology to compete in the $20B+ global lead-acid battery (LAB) market. Smelting has been the industry standard for LAB recycling but Aqua Metals, Inc. (Nasdaq:AQMS) uses their patented AquaRefining method which is claimed to be cheaper and with lower harmful emissions.
Aqua Metals, Inc. (Nasdaq:AQMS) used the proceeds from its 2014 IPO to build a facility in Reno, Nevada. The company successfully commissioned the Reno facility and completed its pilot recycling process in 2016. Today an agreement was announced that finalized an agreement between Aqua Metals, Inc. (Nasdaq:AQMS) and Johnson Controls that covers North America, China and Europe. In exchange for a sum, Johnson Controls will – become the first licensee for the proprietary AquaRefining technology, supply Aqua Metals Inc. with batteries to recycle, purchase metals produced at Aqua Metals, Inc. facilities, and acquire almost 5% of AQMS outstanding shares. Johnson Controls Power Solutions is the world’s largest manufacturer of automotive batteries, supplying approximately 152 million every year to automakers and aftermarket retailers.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
|Last Price a/o 1:20 PM EST||$ 15.66|
|Market Cap (mlns)||$ 200.60|
|Shares Outstanding (mlns)||17.58|
|Share Float (mlns)||13.72|
|Short Interest Ratio||9.87|