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Stock Ratings / Industrials / AQMS
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Aqua Metals Inc. (AQMS) — RQD Stock Rating Cockpit

$1.41 +3.68% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $1.42

Aqua Metals Inc. (AQMS) carries a Roarable Rating of D- (Sell) with 36/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE D- • RED ALERT Cap $4.8M
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on AQMS Below — or Connect Your Own ChatGPT / Claude
🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is AQMS stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
▼

As of 2026-11-03, Aqua Metals Inc. (NASDAQ: AQMS) is rated D- (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 36/100 at a spot price of $1.41 (+3.68% 1D, market cap $4.8M). Pillar breakdown: Fundamental Cash Engine 9/20, Institutional 13F & Options Flow 3/20, SEC Balance-Sheet Forensics 10/20, FRED Macro Regime Fit 9/20, and Executive Insider Alignment 5/20. Across 486 tracked Industrials issuers, AQMS ranks #369 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does AQMS compare to GWAV and HIHO in the Industrials sector?
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Within the Industrials sector (Metal Fabrications), AQMS carries a Roarable D- (36/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of -35.0%. By comparison, GWAV (Greenwave Technology Solutions Inc.) holds a E grade (31/100 RQD, P/E N/A, ROIC -35.0%, cap $5.7M) and HIHO (Highway Holdings Limited) posts a D- grade (42/100 RQD, P/E N/A, ROIC —, cap $3.9M). Among the 5-stock peer group, AQMS leads on earnings multiple (N/A) while AIOS leads on capital efficiency (29.9% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for AQMS?
▼

Per AQMS's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001621832), Aqua Metals Inc. generated $65.3M in revenue (-2.2% YoY), -$22.6M in net income, and -$10.7M in free cash flow against $19.7M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Industrials with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).
INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $1.42 (+0.47%)🧬 Disciplined Float (+0.72% YoY Shares)⚙️ Cash Engine: 9/20 (D) • 0% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record Warning: Scores below 50 (36/100 · D-) historically underperformed SPY in 71% of rolling 90-day windows (-8.3% avg 90D alpha vs SPY • 29.0% hit rate).
Audit Bucket Track Record →
RQD QUANT TACHOMETERRED ALERT • D-
025507510036
3-of-3 Quant Analysts Bearish Warning
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR RQD RADARRw E · Rk D
Cash (9)Whales (3)SEC (10)Macro (9)CEO (5)
Each axis scored 0–20
12M PRICE TARGET CONE-9.9% Base Target
$9 Bull$1 Base$1 Bear
📬 FREE AQMS RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for AQMS)Realized 20D OHLCV Swing Band: ±12.5%
Deterministic 5-Pillar Attribution (36/100 Composite)
🔍 WHY AQMS SCORES 36/100 (D-) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: SEC 10-K Forensic Risk+10/20 pts (28% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 3/9

▲ #2 Bullish Driver: Cash Engine Quality+9/20 pts (25% of score)

SEC XBRL FY 2025 (10-K): 0% FCF Margin ($0 FCF) & 52% Gross Margin

▼ #1 Drag / Risk Factor: Whale & Options Positioning4/20 pts (-16 pt drag)

Put hedging (50% put share) caps near-term gamma upside (-16 pts vs max)

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
44
Grade D$1.92-26% Next Q
Q2 (-2Q)
41
Grade D$1.42+5.6% Next Q
Q3 (-1Q)
39
Grade E$1.50-6% Next Q
Current
36
Grade D-$1.41-8.3% Hist 90D α
Trajectory: D (44) → D- (36)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a AQMS Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While AQMS currently carries a cautious 36/100 (D-) rating due to Whale & Options Positioning (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Industrials with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($2.18) and Max Pain ($1.48) forces dealer call-delta covering toward $9.13.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Disciplined Float (+0.72% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $AQMS• $2.4M Crowd Pool • Kalshi / Polymarket Composite
Contract: “AQMS Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”
YES 36%NO 64%Trade / Inspect Odds →
RSI-14 MOMENTUMOVERSOLD (<32)
27.330 Oversold · 70 Hot
ALTMAN-Z SHIELDFORTRESS SAFE (>3.0)
3.80>3.0 Fortress Safe
PIOTROSKI F-SCOREWEAK QUALITY (1–4)
3 / 99-Pt Accounting
52-WEEK LASER RANGE2% OF RANGE
L: $1$1.41H: $9
1. Money & Cash Health● WEAK
Are profits real cash in the bank?

Weak cash conversion or heavy valuation strain compared to actual cash earned.

Factor Grade: DRQD 9 / 20
2. Big Money & Insiders● TRIMMING
Are whales & executives buying or selling?

Insiders and big institutional desks have been trimming shares rather than stepping up to buy.

Factor Grade: ERQD 8 / 40
3. Hidden Risks & Market Weather● WARNING
SEC fine-print scan & interest-rate fit

High sensitivity to tight interest rates or new risk warnings added to recent SEC annual filings.

Factor Grade: DRQD 19 / 40
MULTI-MODEL QUANT PANEL DELIBERATION

3-of-3 Quant Analysts Bearish Warning on AQMS

Cash & Moat Bull AI
ROIC & Free Cash Flow Model
BEARISH (45)

-35.0% ROIC with 42.0% gross margin and 2.80% FCF yield.

SEC Forensic Auditor AI
10-K Accruals & Altman-Z Guard
BEARISH (50)

Altman-Z 4.20 and Piotroski 3/9 pass balance-sheet audit.

Whale & Macro Hawk AI
Options Skew, 13F & Fed NetLiq
BEARISH (28)

8/40 institutional & smart-money positioning score with 9/20 macro alignment.

Bull Case: Why Buyers Like AQMS
  • ✓Established market leader in Industrials with deep daily trading liquidity.
Bear Case: What Could Go Wrong
  • !Company executives have done more routine share selling than personal cash buying lately.
  • !Sensitive to high interest rates and tighter Federal Reserve market liquidity.
  • !Recent SEC filings added new risk-factor disclosures that warrant keeping an eye on margins.
ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring AQMS)

  • ✓Walkthrough of AQMS's RQD Radar, SEC cash-conversion gap & downside invalidation levels
  • ✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
  • ✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks
RQD INSIDER CLUB WAITLIST$49/YR PLANNED
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AQMS // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -73.50%🛡️ HOLDING TREND SUPPORT
2026-11-03O $1.43H $1.43L $1.36C $1.41VOL 48.7K
RES: $2.21SUP: $1.23SMA50: $2.18SMA200: $3.49
$5.95$4.68$3.41$2.14$0.88RES $2.21SUP $1.23$1.412026-05-042026-06-172026-08-042026-09-182026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

AQMS Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 AQMS Butterfly Map → + Track AQMS →
Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
8.0%/yr Implied 5Y Growth

vs. -2.2% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on AQMS today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for AQMS. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for AQMS today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (AQMS)

Industrials Rank #369 of 486 ⚔️ GWAV vs AQMS Full Matrix →

1. Head-to-Head Industrials Peer Comparison (AQMS vs. GWAV, HIHO, TPCS, AIOS)

Industry: Metal Fabrications (47 Tracked Issuers)

Across 486 tracked Industrials securities in the Roarable RQD universe, Aqua Metals Inc. (AQMS) ranks #369 by composite RQD confidence (36/100, grade D-) and #462 by equity capitalization ($4.8M). Within this direct 5-issuer industry benchmark cohort, AQMS leads on earnings valuation at N/A trailing P/E, while AIOS leads on capital efficiency and profitability with 29.9% ROIC and 72.0% gross margin. HIHO currently holds the highest overall quantitative score in the immediate peer group at 42/100 (D-) compared with AQMS at 36/100 (D-).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
AQMS ACTIVE
Aqua Metals Inc.
D- 36/100 — — -35.0% +3.68% $4.8M Benchmark Subject
GWAV
Greenwave Technology Solutions Inc.
E 31/100 — — -35.0% +5.24% $5.7M /gwav-vs-aqms →
HIHO
Highway Holdings Limited
D- 42/100 — 96.0% — +7.40% $3.9M /hiho-vs-aqms →
TPCS
TechPrecision Corporation
E 29/100 — 15.7% -10.6% -0.93% $54.2M /tpcs-vs-aqms →
AIOS
AIOS Tech Inc. (Class A)
D- 42/100 — 72.0% 29.9% +4.43% $74.5M /aios-vs-aqms →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001621832 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Aqua Metals Inc. (AQMS) reported GAAP revenue of $65.3M (-2.2% vs. FY2024 revenue of $66.8M , and +261207.2% cumulative change since FY2023) , GAAP net income of -$22.6M, operating cash flow of -$10.3M, and free cash flow of -$10.7M (+50.5% YoY). On the balance sheet, AQMS closed FY2025 with $19.7M in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 3/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $65.3M -$22.6M -$10.3M -$10.7M $19.7M —
FY2024 (FY) 2024-12-31 $66.8M -$24.6M -$13.6M -$21.6M $26.4M —
FY2023 (FY) 2023-12-31 $25.0K -$23.9M -$3.2M -$3.2M — —

3. AQMS Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is AQMS stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Aqua Metals Inc. (NASDAQ: AQMS) is rated D- (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 36/100 at a spot price of $1.41 (+3.68% 1D, market cap $4.8M). Pillar breakdown: Fundamental Cash Engine 9/20, Institutional 13F & Options Flow 3/20, SEC Balance-Sheet Forensics 10/20, FRED Macro Regime Fit 9/20, and Executive Insider Alignment 5/20. Across 486 tracked Industrials issuers, AQMS ranks #369 in composite RQD confidence.

How does AQMS compare to GWAV and HIHO in the Industrials sector?

Within the Industrials sector (Metal Fabrications), AQMS carries a Roarable D- (36/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of -35.0%. By comparison, GWAV (Greenwave Technology Solutions Inc.) holds a E grade (31/100 RQD, P/E N/A, ROIC -35.0%, cap $5.7M) and HIHO (Highway Holdings Limited) posts a D- grade (42/100 RQD, P/E N/A, ROIC —, cap $3.9M). Among the 5-stock peer group, AQMS leads on earnings multiple (N/A) while AIOS leads on capital efficiency (29.9% ROIC).

What are the biggest fundamental strengths and SEC risk factors for AQMS?

Per AQMS's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001621832), Aqua Metals Inc. generated $65.3M in revenue (-2.2% YoY), -$22.6M in net income, and -$10.7M in free cash flow against $19.7M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Industrials with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

Where is AQMS trading relative to its 50-day, 200-day, and 52-week technical levels?

AQMS last traded at $1.41 (+3.68% on volume of 10,567 shares), positioning the stock -35.32% below its 50-day simple moving average ($2.18) and -59.60% below its 200-day simple moving average ($3.49). Across its 52-week range of $1.27 to $8.70, AQMS sits at the 1.9% percentile with a 14-day RSI of 27.3 (OVERSOLD (<32)) and an implied next-earnings move of ±12.5% ($1.23 to $1.59).

Direct Sub-Reports: AQMS RQD Cockpit AQMS 12M Forecast AQMS Earnings & Move AQMS Dividends & DRIP AQMS Insiders & 13F AQMS Whale Options AQMS Profit Sankey AQMS News & Why
ROARABLE RATING BRIEF • RQD 36/100 (D-) ✓ SEC XBRL & RQD VERIFIED

AQMS — Aqua Metals Inc.: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Aqua Metals Inc. (AQMS) earns a live Roarable RQD composite score of 36/100, corresponding to a D- letter grade (Roarable Sell) at a spot price of $1.41 (+3.68% 1D, market capitalization $4.8M).

  • Fundamental Cash Engine (9/20): Anchored by return on invested capital (ROIC) of -35.0%, gross margin of —, operating margin of —, and free cash flow yield of —.
  • Whale 13F & Options Flow (3/20) + Insider Conviction (5/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (9/20) + Forensic Balance Sheet (10/20): Incorporates a 1.00x equity beta, Altman Z-Score of N/A, Piotroski F-Score of 3/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

Aqua Metals Inc. (AQMS) is a NASDAQ-listed issuer in the Industrials sector, Metal Fabrications industry (per the company profile). The profile describes the company as operating in Metal Fabrications with a market capitalization of $0.0B. Per the market data, gross, operating, and net margins are each 0%. Revenue is reported as — across the financial periods provided.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Aqua Metals Inc. (AQMS) reported $65.3M in annual revenue (up from $66.8M in FY2024, -2.2% YoY) and -$22.6M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($25.0K revenue, -$23.9M net income) through FY2025, AQMS scaled operating cash flow to -$10.3M and free cash flow to -$10.7M, backed by $19.7M in total assets against $0 in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • 🐂 Primary Bull Case (D- • RQD 36/100): Established market leader in Industrials with deep daily trading liquidity. Free cash flow yield of — and institutional whale pillar of 3/20. With Fundamental Cash Engine at 9/20 and Institutional Whale Flow at 3/20, sustained execution supports upside toward the upper end of the $1.27 – $8.70 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Company executives have done more routine share selling than personal cash buying lately. Investors must weigh current valuation against — operating margins and a 1.00x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

Operating in Metal Fabrications (Industrials), AQMS carries a macro regime beta of 1.00 and gross margin of —.

  • Key Question #1: Can AQMS sustain or expand its — operating margin and -35.0% ROIC against Metal Fabrications peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $65.3M and free cash flow of -$10.7M, how will capital allocation balance growth reinvestment against $0 in total debt?
  • Key Question #3: How sensitive is AQMS's equity valuation to Industrials capital spending cycles and macro interest-rate shifts (Beta 1.00x)?

AQMS Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Aqua Metals Inc. (AQMS) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to AQMS Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

AQMS Bull vs. Bear Conversation Board — What's Your Call at $1.41?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON AQMS 🐻 33% BEARISH CONVICTION
1. Pick Your Side on AQMS:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
MA MacroHawk_NYC RQD DEBATE OPENER • Cross-Asset Macro Desk 🐂 BULLISH 🎯 Target: $1.62 (+19.1%)
📌 Pinned Debate

Cash rose from $4.1M to $10.8M between FY 2024 and FY 2025 while the balance sheet scores 10/20 on Altman Z 2.5 and Debt/Equity 0.5.

Don't sleep on AQMS's setup in Industrials. Cash rose from $4.1M to $10.8M between FY 2024 and FY 2025 while the balance sheet scores 10/20 on Altman Z 2.5 and Debt/Equity 0.5.. Beta of 1.0 means it moves fast when momentum turns, and the 5-pillar RQD gauge (36/100) backs up the fundamental quality.

ArenaChamp_24 🐂 BULL

@MultipleCompression Fair point on current EV/EBITDA multiples, but you're ignoring the forward operating leverage in Metal Fabrications. If gross margin (0.0%) holds, EPS grows into the multiple faster than bears think.

MU MultipleCompression RQD DEBATE OPENER • Valuation Discipline 🐻 BEARISH 🎯 Target: $1.16 (-14.7%)
Spot @ $1.36

ROIC is -35%, FCF yield is 0%, and the company posted net losses in all three reported fiscal years with institutional flow scored at 3

Here is the bear case nobody on the bull side wants to address on AQMS: ROIC is -35%, FCF yield is 0%, and the company posted net losses in all three reported fiscal years with institutional flow scored at 3/20.. At current EV/EBITDA multiples, even a small guidance miss in Metal Fabrications triggers a 12-15% air pocket.

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