Aqua Metals, Inc. (AQMS)

Aqua Metals' stock price has experienced fluctuations and positive movements over the past six months, increasing by 27.88%. In January 2026, the stock surged by 20% following a Material Supply Agreement with 6K Energy. In November 2025, the stock price increased by 16.26% after Q3 2025 results showed a reduced net loss and the company secured $17.1 million in new funding. In August 2025, the company eliminated $4.5 million in debt and reduced operating costs by 40%. In February 2026, the stock decreased by 9.47%.

The demand for Aqua Metals' products and services is driven by the rapidly accelerating global demand for batteries, particularly lithium-ion batteries, rather than traditional seasonality. The increasing adoption of lithium-based chemistries is fueling a significant rise in the demand for critical minerals, making battery recycling a crucial and consistently growing secondary source of these materials.

Aqua Metals, Inc. specializes in sustainable metals recycling, focusing on recovering critical materials from spent batteries. Their AquaRefining™ technology offers a cleaner alternative to traditional smelting, supporting a circular supply chain for the energy storage and electric vehicle sectors. Aqua Metals operates within the Basic Materials sector, specifically in Non-Energy Minerals, with classifications also extending to Industrials and Waste Management. The company's AquaRefining™ technology is a hydrometallurgical, water-based process that recovers valuable metals with lower emissions. Initially focused on lead-acid batteries, Aqua Metals has expanded to commercializing sustainable lithium-ion battery recycling, producing high-purity metals like copper, lithium carbonate, nickel carbonate, and mixed hydroxide precipitate.

Aqua Metals, Inc. is headquartered in Reno, Nevada, and is developing its Sierra ARC in the Tahoe-Reno Industrial Center as a sustainable lithium battery recycling center for North America. The company has an agreement with Advanced Circular Industry (ACI) to deploy its AquaRefining technology in Europe and the Middle East.

Aqua Metals has cultivated a positive brand reputation through advancements in sustainable battery recycling technology and strategic partnerships. In January 2026, the company executed a Material Supply Agreement with 6K Energy. In February 2026, they announced a proposed strategic collaboration with American Battery Factory (ABF). In November 2025, they signed MOUs with MOBY Robotics and Impossible Metals to explore clean refining of deep-sea polymetallic nodules. In May 2024, they collaborated in a $4.99 million U.S. Department of Energy (DOE) grant project. The company consistently highlights that its AquaRefining™ technology achieves a 98% reduction in greenhouse gas emissions and produces zero sodium sulfate waste. There have been no reported events negatively affecting Aqua Metals' brand reputation in the past year.

Aqua Metals, Inc. has a diverse ownership structure, including institutional investors, insiders, and individual investors. Institutional investors own approximately 1.06% to 5.40% of the company's stock, while insiders hold a significant portion, ranging from 28.24% to 264.67%. Major institutional owners include Northwestern Mutual Wealth Management Co., Jane Street Group, Llc, Baird Financial Group, Inc., Vanguard Group Inc, Hamilton Capital Partners, Llc, Ieq Capital, Llc, Schonfeld Strategic Advisors LLC, Two Sigma Securities, Llc, UBS Group AG and BlackRock, Inc.. Key individual owners and insiders include Stephen R. Clarke, David Kanen, Selwyn Mould, David McMurtry, Thomas Michael Murphy, Interstate Batteries Inc, Edward J. Smith, Judd Merrill, Knuettel Francis Ii and Stephen Cotton.