AQMSNasdaqSecondary Smelting & Refining of Nonferrous MetalsFiscal year ends December 31
Aqua Metals, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$1.48−0.22 (-12.94%)
Close on Oct 19, 2026
- Market cap
- $5.04M
- P/E (TTM)
- –
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
8.0%
0M of 4M shares
Institutional holders
29
3 new, 5 sold out
Net institutional buying
0M
In Q2 2026
Insider trades, 12 months
0 buys · 0 sales
Open-market trades only
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Alex Cushner | 834,032 | 11.70% | 13G (passive) amendment | Dec 31, 2024 |
| Baird Financial Corp | 371,071 | 5.20% | 13G (passive) | Dec 31, 2024 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of AQMS | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Stifel Financial Corp | 102,642 | 2.88% | $296.64K | +20,826 | 0.00% |
| Hamilton Capital Partners, LLC | 62,204 | 1.75% | $179.77K | New | 0.05% |
| Geode Capital Management, LLC | 34,410 | 0.97% | $99.45K | −6,783 | 0.00% |
| Price T Rowe Associates Inc /Md/ | 29,337 | 0.82% | $85 | +4,747 | 0.00% |
| Vanguard Capital Management LLC | 29,215 | 0.82% | $84.43K | – | 0.00% |
| Vanguard Fiduciary Trust Co | 15,587 | 0.44% | $45.05K | – | 0.00% |
| BlackRock, Inc. | 4,849 | 0.14% | $14.01K | – | 0.00% |
| UBS Group AG | 1,739 | 0.05% | $5.03K | +1,248 | 0.00% |
| SRS Capital Advisors, Inc. | 1,295 | 0.04% | $3.74K | −45 | 0.00% |
| Wells Fargo & Company/Mn | 500 | 0.01% | $1.45K | – | 0.00% |
| Northwestern Mutual Wealth Management Co | 312 | 0.01% | $902 | – | 0.00% |
| Royal Bank of Canada | 302 | 0.01% | $0 | +130 | 0.00% |
| Morgan Stanley | 294 | 0.01% | $849 | – | 0.00% |
| Nbc Securities, Inc. | 200 | 0.01% | $578 | – | 0.00% |
| Elevated Capital Advisors, LLC | 171 | 0.00% | $494 | – | 0.00% |
| Jones Financial Companies Lllp | 162 | 0.00% | $471 | −206 | 0.00% |
| Vanguard Global Advisers, LLC | 133 | 0.00% | $384 | – | 0.00% |
| Skandinaviska Enskilda Banken AB (publ) | 131 | 0.00% | $379 | New | 0.00% |
| SBI Securities Co., Ltd. | 110 | 0.00% | $318 | +8 | 0.00% |
| Osaic Holdings, Inc. | 103 | 0.00% | $297 | – | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 29 | 0M | 8.0% | 3 / 5 | 3 / 5 | 0M | 0M |
| Q1 2026 | 31 | 0M | 6.1% | 6 / 8 | 4 / 7 | 0M | 0M |
| Q4 2025 | 33 | 0M | 5.2% | 16 / 4 | 5 / 9 | 0M | 0M |
| Q3 2025 | 27 | 0M | 4.5% | 27 / 0 | 0 / 0 | 0M | 0M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of AQMS | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Extended Market Index Fund | 29,215 | 0.82% | $84.43K | 0.00% | Jun 30, 2026 |
| Fidelity Extended Market Index Fund | 18,364 | 0.52% | $77.50K | 0.00% | May 31, 2026 |
| T. Rowe Price Extended Equity Market Index Fund | 8,900 | 0.25% | $25.72K | 0.00% | Jun 30, 2026 |
| Fidelity Series Total Market Index Fund | 5,055 | 0.14% | $21.33K | 0.00% | May 31, 2026 |
| Fidelity Total Market Index Fund | 5,050 | 0.14% | $21.31K | 0.00% | May 31, 2026 |
| U.S. Social Core Equity 2 Portfolio | 766 | 0.02% | $1.94K | 0.00% | Jul 31, 2026 |
| Fidelity Nasdaq Composite Index Fund | 69 | 0.00% | $291 | 0.00% | May 31, 2026 |
| Blackstone Alternative Multi-Strategy Fund | -100 | -0.00% | -$289 | -0.00% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Stephen Cotton | Chief Executive Officer, Director | 318,784 | 8.95% | Aug 26, 2026 |
| Benjamin S. Taecker | Chief Eng and Opr Officer | 87,274 | 2.45% | Aug 26, 2026 |
| Eric West | Chief Financial Officer | 100,476 | 2.82% | Aug 26, 2026 |
| Judd Merrill | Chief Financial Officer | 244,119 | 6.85% | Feb 24, 2025 |
| Vincent L. Divito | Director | 26,402 | 0.74% | Aug 26, 2026 |
| Eric John Gangloff | Director | 22,347 | 0.63% | Aug 26, 2026 |
| Steven K. Henderson | Director | 16,840 | 0.47% | Aug 26, 2026 |
| Peifang Zhang | Director | 86,843 | 2.44% | May 8, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Benjamin S. Taecker Chief Eng and Opr Officer | Aug 24, 2026 | Award | +30,958 | – | – | 87,274 |
| Eric West Chief Financial Officer | Aug 24, 2026 | Award | +37,352 | – | – | 100,476 |
| Stephen Cotton Chief Executive Officer, Director | Aug 24, 2026 | Award | +104,818 | – | – | 318,784 |
| Vincent L. Divito Director | Aug 24, 2026 | Award | +15,641 | – | – | 26,402 |
| Eric John Gangloff Director | Aug 24, 2026 | Award | +10,427 | – | – | 22,347 |
| Steven K. Henderson Director | Aug 24, 2026 | Award | +10,427 | – | – | 16,840 |
| Stephen Cotton Chief Executive Officer, Director | Aug 19, 2026 | Tax withholding | −3,305 | $2.67 | $8.82K | 213,966 |
| Benjamin S. Taecker Chief Eng and Opr Officer | Aug 19, 2026 | Tax withholding | −1,005 | $2.67 | $2.68K | 56,316 |
| Eric West Chief Financial Officer | Aug 19, 2026 | Tax withholding | −1,213 | $2.67 | $3.24K | 63,124 |
| Stephen Cotton Chief Executive Officer, Director | Jul 1, 2026 | Tax withholding | −2,402 | $2.97 | $7.13K | 217,271 |
| Benjamin S. Taecker Chief Eng and Opr Officer | Jul 1, 2026 | Tax withholding | −744 | $2.97 | $2.21K | 57,321 |
| Eric West Chief Financial Officer | May 19, 2026 | Tax withholding | −721 | $3.91 | $2.82K | 64,337 |
| Stephen Cotton Chief Executive Officer, Director | Apr 13, 2026 | Tax withholding | −2,352 | $3.92 | $9.22K | 219,673 |
| Eric West Chief Financial Officer | Apr 13, 2026 | Tax withholding | −863 | $3.92 | $3.38K | 65,058 |
| Benjamin S. Taecker Chief Eng and Opr Officer | Apr 13, 2026 | Tax withholding | −715 | $3.92 | $2.80K | 58,065 |
| Stephen Cotton Chief Executive Officer, Director | Feb 24, 2026 | Tax withholding | −3,307 | $4.76 | $15.74K | 222,025 |
| Eric West Chief Financial Officer | Feb 24, 2026 | Tax withholding | −1,214 | $4.76 | $5.78K | 65,921 |
| Benjamin S. Taecker Chief Eng and Opr Officer | Feb 24, 2026 | Tax withholding | −1,006 | $4.76 | $4.79K | 58,780 |
| Eric West Chief Financial Officer | Feb 13, 2026 | Award | +28,390 | $4.72 | $134.00K | 67,135 |
| Stephen Cotton Chief Executive Officer, Director | Feb 13, 2026 | Award | +79,873 | $4.72 | $377.00K | 225,332 |
| Benjamin S. Taecker Chief Eng and Opr Officer | Feb 13, 2026 | Award | +23,306 | $4.72 | $110.00K | 59,786 |
| Stephen Cotton Chief Executive Officer, Director | Jan 7, 2026 | Returned to company | −2,100 | – | – | 145,459 |
| Benjamin S. Taecker Chief Eng and Opr Officer | Jan 7, 2026 | Returned to company | −13 | – | – | 36,480 |
| Stephen Cotton Chief Executive Officer, Director | Jan 2, 2026 | Tax withholding | −3,208 | $4.80 | $15.40K | 147,559 |
| Benjamin S. Taecker Chief Eng and Opr Officer | Jan 2, 2026 | Tax withholding | −979 | $4.80 | $4.70K | 36,493 |
| Stephen Cotton Chief Executive Officer, Director | Dec 18, 2025 | Award | +14,749 | – | – | 157,014 |
| Stephen Cotton Chief Executive Officer, Director | Dec 18, 2025 | Tax withholding | −6,247 | $5.46 | $34.11K | 150,767 |
| Eric West Chief Financial Officer | Nov 20, 2025 | Tax withholding | −720 | $9.80 | $7.06K | 38,745 |
| Eric West Chief Financial Officer | Oct 13, 2025 | Award | +12,224 | $9.58 | $117.11K | 39,465 |
| Benjamin S. Taecker Chief Eng and Opr Officer | Oct 13, 2025 | Award | +10,132 | $9.58 | $97.06K | 37,472 |
| Stephen Cotton Chief Executive Officer, Director | Oct 13, 2025 | Award | +33,320 | $9.58 | $319.21K | 142,265 |
| Stephen Cotton Chief Executive Officer, Director | Sep 19, 2025 | Award | +11,250 | – | – | 115,369 |
| Stephen Cotton Chief Executive Officer, Director | Sep 19, 2025 | Tax withholding | −4,765 | $4.12 | $19.63K | 110,604 |
| Benjamin S. Taecker Chief Eng and Opr Officer | Aug 20, 2025 | Tax withholding | −564 | $3.68 | $2.08K | 28,315 |
| Stephen Cotton Chief Executive Officer, Director | Aug 20, 2025 | Tax withholding | −1,920 | $3.68 | $7.07K | 104,119 |
| Eric West Chief Financial Officer | Aug 19, 2025 | Award | +17,179 | $3.95 | $67.86K | 27,241 |
| Benjamin S. Taecker Chief Eng and Opr Officer | Aug 19, 2025 | Award | +14,238 | $3.95 | $56.24K | 28,879 |
| Stephen Cotton Chief Executive Officer, Director | Aug 19, 2025 | Award | +46,824 | $3.95 | $184.95K | 106,039 |
| Benjamin S. Taecker Chief Eng and Opr Officer | Jul 1, 2025 | Tax withholding | −3,043 | $0.49 | $1.49K | 146,426 |
| Stephen Cotton Chief Executive Officer, Director | Jul 1, 2025 | Tax withholding | −9,301 | $0.49 | $4.56K | 592,154 |
| Vincent L. Divito Director | May 6, 2025 | Award | +65,217 | – | – | 107,619 |
| Eric John Gangloff Director | May 6, 2025 | Award | +54,347 | – | – | 119,208 |
| Steven K. Henderson Director | May 6, 2025 | Award | +54,347 | – | – | 64,136 |
| Peifang Zhang Director | May 6, 2025 | Award | +43,478 | – | – | 86,085 |
| Steven K. Henderson Director | Apr 2, 2025 | Award | +9,789 | $1.86 | $18.21K | 9,789 |
| Eric John Gangloff Director | Apr 2, 2025 | Award | +7,661 | $1.86 | $14.25K | 64,861 |
| Peifang Zhang Director | Apr 2, 2025 | Award | +16,129 | $1.86 | $30.00K | 42,606 |
| Vincent L. Divito Director | Apr 2, 2025 | Award | +12,096 | $1.86 | $22.50K | 42,402 |
| Benjamin S. Taecker Chief Eng and Opr Officer | Feb 20, 2025 | Award | +21,802 | – | – | 149,469 |
| Judd Merrill Chief Financial Officer | Feb 20, 2025 | Award | +27,208 | – | – | 244,119 |
| Stephen Cotton Chief Executive Officer, Director | Feb 20, 2025 | Award | +37,103 | – | – | 601,455 |
| Benjamin S. Taecker Chief Eng and Opr Officer | Jan 1, 2025 | Tax withholding | −4,222 | $2.52 | $10.64K | 127,667 |
| Judd Merrill Chief Financial Officer | Jan 1, 2025 | Tax withholding | −6,112 | $2.52 | $15.40K | 216,911 |
| Stephen Cotton Chief Executive Officer, Director | Jan 1, 2025 | Tax withholding | −13,337 | $2.52 | $33.61K | 564,352 |
| Judd Merrill Chief Financial Officer | Dec 19, 2024 | Award | +124,633 | – | – | 223,023 |
| Stephen Cotton Chief Executive Officer, Director | Dec 19, 2024 | Award | +271,927 | – | – | 577,689 |
| Benjamin S. Taecker Chief Eng and Opr Officer | Dec 19, 2024 | Award | +79,893 | – | – | 111,726 |
| Peifang Zhang Director | Oct 1, 2024 | Award | +85,201 | – | – | 449,071 |
| Vincent L. Divito Director | Sep 5, 2024 | Award | +160,944 | – | – | 606,138 |
| Peifang Zhang Director | Sep 5, 2024 | Award | +107,296 | – | – | 444,342 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Peifang Zhang Director | Jun 4, 2025 | 32,855 | $25.96K | Jun 4, 2025 | 2021 RSU |
| Peifang Zhang Director | Jun 2, 2025 | 9,750 | $7.80K | Jun 2, 2025 | OPEN MARKET PURCHASE |
| Merrill Judd Officer | Jul 6, 2023 | 25,000 | $28.00K | Jul 6, 2023 | Restricted Stock |
| Stephen Cotton Officer, Director | Jul 6, 2023 | 37,633 | $41.72K | Jul 6, 2023 | RSU vesting |
| Stephen Cotton Officer, Director | Jul 5, 2023 | 62,367 | $72.28K | Jul 5, 2023 | RSU vesting |