Aqua Metals price target lowered to $2 from $4 at H.C. Wainwright

H.C. Wainwright analyst Amit Dayal lowered the firm’s price target on Aqua Metals to $2 from $4 and keeps a Buy rating on the shares. The firm cites the impact of suspension of further activity regarding the $33M secured credit facility that was being negotiated by the company since May for the target cut. Aqua Metals attributed the suspension to continued high interest rate environment and recent declines in the market price for lithium carbonate, which have dropped by over 25% since signing the original term sheet, the analyst tells investors in a research note.