Aqua Metals Inc (NASDAQ:AQMS) shares were trading higher by 18.2% at $3.02 on above-average volume Thursday afternoon. 

An Aqua Metals spokesperson commented on Thursday’s price action, telling Benzinga the stock is “likely just oversold over the last few months” and rallying in anticipation of the company’s first licensing deal. 

Aqua Metals is a United States-based company engaged in the business of recycling lead through a novel, proprietary and patent-pending process that it developed and named AquaRefining.

The company’s mission is to eliminate the inefficiency, costs and toxic waste associated with conventional smelter-based recycling of lead acid batteries.