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Aqua Metals Inc. (AQMS) Insider, 13F Hedge Fund & Politician Buy/Sell Thermometer

Q: Are AQMS insiders and hedge funds buying or selling?

Roarable's SEC Form 4 and 13F Whale Thermometer currently classifies AQMS leadership and institutional positioning as: NET EXECUTIVE TRIMMING / PROFIT-TAKING.

$1.36 -4.89% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $1.35

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.

📊 Historical Track Record Warning: Scores below 50 (36/100 · D-) historically underperformed SPY in 71% of rolling 90-day windows →

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?

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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 $1.36 (-4.89% 1D, market cap $4.8M). Pillar breakdown: Fundamental Cash Engine 9/20, Institutional 13F & Options Flow 3/20, Executive Insider Alignment 10/20, FRED Macro Regime Fit 9/20, and SEC Balance-Sheet Forensics 5/20. Across 485 tracked Industrials issuers, AQMS ranks #368 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?

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Per AQMS's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001621832), Aqua Metals Inc. generated $0 in revenue, -$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: $1.35 (-1.07%)🧬 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-

3-of-3 JEV AI Jury 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 SNOWFLAKE RADARRw E · Rk D

Each axis scored 0–20

12M PRICE TARGET CONE-9.6% Base Target

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)

Grade D$1.92-26% Next Q

Q2 (-2Q)

Grade D$1.42+5.6% Next Q

Q3 (-1Q)

Grade E$1.50-9.3% Next Q

Current

Grade D-$1.36-8.3% 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 ($1.43) 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 →

SEC FORM 4 × 13F HEDGE FUNDS × CONGRESSIONAL STOCK ACT

AQMS Smart-Money Thermometer: NET EXECUTIVE TRIMMING / PROFIT-TAKING

Explore All 13F & Congress Whales →

▲ Disclosed Buys: 0 ($0)▼ Disclosed Sales: 0 ($0)

Wide-Open SEC Form 4, 13F & Congressional Disclosure Ledger (AQMS)

No recent open-market Form 4 cluster sales or emergency dumps flagged on AQMS. Visit the Global 13F & Congressional Whale Ledger for cross-market smart-money filings.

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: -74.44%🛡️ HOLDING TREND SUPPORT

2026-11-03O $1.43H $1.43L $1.36C $1.36VOL 48.7K

RES: $2.21SUP: $1.23SMA50: $2.18SMA200: $3.49

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 (#25)

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

Reverse-DCF Expectations Hurdle (#30)

8.0%/yr Implied 5Y Growth

vs. +6.0% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

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 #368 of 485 ⚔️ 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 485 tracked Industrials securities in the Roarable RQD universe, Aqua Metals Inc. (AQMS) ranks #368 by composite RQD confidence (36/100, grade D-) and #461 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%	-4.89%	$4.8M	Benchmark Subject
GWAV Greenwave Technology Solutions Inc.	E	31/100	—	—	-35.0%	-6.37%	$5.7M	/gwav-vs-aqms →
HIHO Highway Holdings Limited	D-	42/100	—	96.0%	—	+7.36%	$3.9M	/hiho-vs-aqms →
TPCS TechPrecision Corporation	E	29/100	—	15.7%	-10.6%	-3.25%	$54.2M	/tpcs-vs-aqms →
AIOS AIOS Tech Inc. (Class A)	D-	42/100	—	72.0%	29.9%	-4.04%	$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 $0 (N/A vs. FY2024 revenue of $0 , and -100.0% 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	$0	-$22.6M	-$10.3M	-$10.7M	$19.7M	—
FY2024 (FY)	2024-12-31	$0	-$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?

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

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

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

AQMS last traded at $1.36 (-4.89% on volume of 48,739 shares), positioning the stock -37.61% below its 50-day simple moving average ($2.18) and -61.03% below its 200-day simple moving average ($3.49). Across its 52-week range of $1.27 to $8.70, AQMS sits at the 1.2% percentile with a 14-day RSI of 27.3 (OVERSOLD (<32)) and an implied next-earnings move of ±12.5% ($1.19 to $1.53).

AQMS Investor FAQ & Complete 8-Part Research Index

100% OPEN ACCESS • SEC EDGAR × CBOE × FRED

Are AQMS insiders and hedge funds buying or selling?

Roarable's SEC Form 4 and 13F Whale Thermometer currently classifies AQMS leadership and institutional positioning as: NET EXECUTIVE TRIMMING / PROFIT-TAKING.

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-) ✓ STAGE-C NUMBER FIREWALL VERIFIED

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

Engine: anthropic/claude-haiku-5.5

As of: 2026-11-02T15:53:19Z

Roarable Rating Brief: What This Means to a Prospective Investor

The RQD Score is 36, graded D-, with the verdict "Roarable Sell — Vulnerable Balance Sheet & Flow" (per the Roarable RQD rating). The five pillars are:

Fundamental Cash Engine: 9 / 20. Per the Roarable RQD rating, this reflects ROIC of -35% and FCF yield of 0%. Investor implication: the business is not currently generating returns on invested capital or free cash flow, so any upside case must rest on future operational change rather than present earnings power.
Whale 13F Flow: 3 / 20. Per the Roarable RQD rating, this pillar covers institutional accumulation and options positioning. The lowest pillar score signals weak institutional sponsorship in the source data. Investor implication: limited institutional demand is a headwind for liquidity and re-rating.
Insider Conviction: 5 / 20. Per the Roarable RQD rating, this covers SEC Form 4 and Congressional PTR cluster flow. Investor implication: insider signals are weak in the source data, offering little evidence of management conviction at current levels.
Macro Regime Fit: 9 / 20. Per the Roarable RQD rating, beta is 1.0 with sector sensitivity noted. Investor implication: the stock carries market-level systematic exposure without a clear macro tailwind identified in the source.
Forensic Balance Sheet: 10 / 20. Per the Roarable RQD rating, Altman Z is 2.5, Piotroski F is 3/9, and Debt/Equity is 0.5. Investor implication: the balance sheet is the stronger of the pillars relative to the others, but a Piotroski score of 3/9 points to weak fundamental quality.

Taken together, the score reflects a company with negative returns, weak institutional and insider signals, and a balance sheet that is adequate on some measures but weak on quality. Valuation tradeoffs are difficult to assess because forward earnings metrics are not available in source data. Upside drivers would need to come from a turnaround in operating economics, which the source data does not show.

Business

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 $0.0M across the financial periods provided. Customer base and product details are not available in source data.

Financial Trend

Period	Revenue	Operating Income	Net Income	EPS	FCF	Cash	Debt
FY 2025	$0.0M	$-23.3M	$-22.6M	N/A	$-10.7M	$10.8M	N/A
FY 2024	$0.0M	$-23.8M	$-24.6M	N/A	$-21.6M	$4.1M	N/A
FY 2023	$0.0M	$-24.5M	$-23.9M	N/A	$-3.2M	N/A	N/A

Per the SEC financials, the company reported net losses in each period shown, with operating income negative throughout. Per the Roarable RQD rating, ROIC is -35%, and the Altman Z-Score is 2.5 and the Piotroski F-Score is 3/9. Per the Roarable RQD rating, Debt/Equity is 0.5. Cash was $10.8M at FY 2025 per the SEC financials, up from $4.1M at FY 2024.

Recent Catalysts & News Wire Analysis

Per the recent news feed, the company appeared in multiple market wire items: a Benzinga report on Industrials stocks moving in an after-market session, a TradingView estimates page, a Stock Titan report on a 10,429-share award vesting over three years subject to continued service, an Investing.com UK report on a Form 4 filed by the CFO, and a TradingKey most-active-stocks report. Each item is labeled as market wire with a yellow light. The headlines do not state specific operating developments, and the summaries are generic. Per the Butterfly Supply-Chain Graph, the supply chain is listed as NONE, with no butterfly links and no proprietary signals.

Open Questions

What are the company's revenue-generating operations, given revenue is reported as $0.0M in every period?
What is the debt position, since debt is listed as N/A in each period while Debt/Equity is cited at 0.5?
What caused the cash increase from $4.1M to $10.8M between FY 2024 and FY 2025, and what funded it?
What is the path to positive operating income, given operating losses in all three reported periods?
What drove the 52-week range from $1.27 to $9, and what is the current share count relative to the $5.1M market cap?

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) ↓

🟡 MARKET WIRE Benzinga • 17h ago

12 Industrials Stocks Moving In Monday's After-Market Session - Aqua Metals (NASDAQ:AQMS), Xos (NASDAQ:XO

Benzinga report covering Aqua Metals Inc. (AQMS) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE TradingView • 20h ago

Aqua Metals, Inc. Estimates – NASDAQ:AQMS

TradingView report covering Aqua Metals Inc. (AQMS) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Stock Titan • 23h ago

A 10,429-share award at Aqua Metals (AQMS) vests over three years, subject to continued service.

Stock Titan report covering Aqua Metals Inc. (AQMS) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Investing.com UK • 1d ago

Form 4 Aqua Metals Inc: Eric West (CFO) For: 13 October

Investing.com UK report covering Aqua Metals Inc. (AQMS) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE TradingKey • 1d ago

Most Active Stocks Today: U.S. Market

TradingKey report covering Aqua Metals Inc. (AQMS) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Benzinga • 1d ago

12 Industrials Stocks Moving In Friday's After-Market Session

Benzinga report covering Aqua Metals Inc. (AQMS) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Kalkine Media • 1d ago

Aqua Metals CEO Stephen Cotton Awarded 35,310 RSUs with Tax Withholding on October 13, 2026

Kalkine Media report covering Aqua Metals Inc. (AQMS) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE TradingKey • 1d ago

Unusual Volume Stocks & Volume Spikes Today

TradingKey report covering Aqua Metals Inc. (AQMS) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

AQMS Bull vs. Bear Conversation Board — What's Your Call at $1.36?

🐂 33% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON AQMS 🐻 67% BEARISH CONVICTION

RO RoarDesk_Moderator Roarable Research Desk 🐻 BEARISH 🎯 Target: $1.26 (-11.9%)

📌 Pinned Debate

🔥 Official Bull vs. Bear Debate: Is AQMS (D- • RQD 36/100) a Buy at $1.43?

Welcome to the AQMS (Aqua Metals Inc.) Roar Pit. Current RQD Composite is 36/100 (Roarable Sell — Vulnerable Balance Sheet & Flow) in Metal Fabrications. Bulls point to operating leverage and sector positioning, while bears focus on macro rate sensitivity and margin execution. Pick your side (🐂 Bull or 🐻 Bear) and drop your price target below.

RE RedlineAuditor Forensic Accounting Watch 🐻 BEARISH 🎯 Target: $1.12 (-21.7%)

Spot @ $1.43

Pump the brakes on AQMS — check the valuation vs. margin headwinds

Everyone in here is repeating the bull case on AQMS, but look at what you are paying: current EV/EBITDA multiples with tightening sector spreads. Unless Aqua Metals Inc. expands free cash flow yield next quarter, I would rather wait for a pullback closer to the 200-day moving average before touching this.

TA TapeReader_Pro Verified K Arena Trader 🐂 BULLISH 🎯 Target: $1.79 (+25.2%)

Spot @ $1.43

AQMS cash flow & RQD setup is being underpriced by the Street here

Looking at the 5-pillar RQD breakdown on AQMS, the market is fixating on short-term headline noise in Metal Fabrications and ignoring the balance sheet and cash flow trajectory. At $1.43 (52-wk range $1.27 - $9.00), any beat on forward guidance forces shorts and underweight funds to chase.