In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Aqua Metals Inc. (NASDAQ:AQMS) reported that Interstate Batteries, Inc. has picked up 3,483,452 of common stock as of 2017-05-16.
The acquisition brings the aggregate amount owned by Interstate Batteries, Inc. to a total of 3,483,452 representing less than 15.05% stake in the company.
For those not familiar with the company, Aqua Metals, Inc. is engaged in the business of recycling lead through a process that the Company developed and named AquaRefining. The Company’s AquaRefining process focuses on providing for the recycling of lead acid batteries (LABs) and the production of lead. AquaRefining uses bio-degradable aqueous solvent and an ambient temperature electro-chemical process to produce lead. The modular nature of AquaRefining makes it possible to start LAB recycling at a much smaller scale than is possible with smelters. Its AquaRefining process begins with the crushing of used LABs and the separation of the metallic lead, active material (lead compounds), sulfuric acid and plastic for recycling. The active material is dissolved in its solvent. The primary lead is then stripped from the solvent using its automated process allowing the solvent to be reused continuously and indefinitely. As of December 31, 2016, the Company had not generated revenues.
A glance at Aqua Metals Inc. (NASDAQ:AQMS)’s key stats reveals a current market capitalization of 218.67 Million based on 20.14 Million shares outstanding and a price at last close of $11.61 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-05-12, Divito picked up 1,000 at a purchase price of $12.58. This brings their total holding to 2,000 as of the date of the filing.
On the sell side, the most recent transaction saw Interstate unload 32,500 shares at a sale price of $16.78. This brings their total holding to 473,827.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Aqua Metals Inc. (NASDAQ:AQMS) as things move forward to see if its progress aligns with these transactions.
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