Short Interest in 374Water Inc. (NASDAQ:SCWO) Drops By 43.7%

374Water Inc. (NASDAQ:SCWO) saw a significant decrease in short interest in September. As of September 30th, there was short interest totaling 597,100 shares, a decrease of 43.7% from the September 15th total of 1,060,000 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,460,000 shares, the short-interest ratio is presently 0.1 days. Based on an average daily trading volume, of 4,460,000 shares, the short-interest ratio is presently 0.1 days. Approximately 0.9% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several brokerages have commented on SCWO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 374Water in a report on Wednesday, October 8th. Wall Street Zen raised shares of 374Water to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Insider Buying and Selling

In other 374Water news, major shareholder Yaacov Nagar sold 1,499,000 shares of 374Water stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $0.46, for a total transaction of $689,540.00. Following the transaction, the insider directly owned 34,258,325 shares of the company’s stock, valued at approximately $15,758,829.50. The trade was a 4.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 2,980,967 shares of company stock worth $1,420,559. 20.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On 374Water

Large investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. lifted its position in 374Water by 21.6% in the 1st quarter. D.A. Davidson & CO. now owns 570,465 shares of the company’s stock valued at $194,000 after acquiring an additional 101,285 shares in the last quarter. Nuveen LLC bought a new position in 374Water in the 1st quarter valued at about $37,000. Sigma Planning Corp lifted its position in 374Water by 47.1% in the 1st quarter. Sigma Planning Corp now owns 270,693 shares of the company’s stock valued at $92,000 after acquiring an additional 86,733 shares in the last quarter. Sentinel Trust Co. LBA lifted its position in 374Water by 30.8% in the 1st quarter. Sentinel Trust Co. LBA now owns 401,300 shares of the company’s stock valued at $136,000 after acquiring an additional 94,500 shares in the last quarter. Finally, Patron Partners LLC lifted its position in 374Water by 62.5% in the 1st quarter. Patron Partners LLC now owns 130,000 shares of the company’s stock valued at $44,000 after acquiring an additional 50,000 shares in the last quarter. Institutional investors own 12.16% of the company’s stock.

374Water Price Performance

SCWO stock opened at $0.38 on Wednesday. The stock has a market capitalization of $57.00 million, a PE ratio of -3.43 and a beta of -0.40. The company’s 50-day moving average is $0.36 and its 200-day moving average is $0.32. 374Water has a 1 year low of $0.16 and a 1 year high of $1.95.

374Water (NASDAQ:SCWO) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $0.60 million for the quarter, compared to the consensus estimate of $5.20 million. 374Water had a negative return on equity of 138.71% and a negative net margin of 1,278.90%.

About 374Water

374Water Inc provides a technology that transforms wet wastes into recoverable resources in the United States. The company transforms wet wastes, including sewage sludge, biosolids, food waste, hazardous and non-hazardous waste, and forever chemicals. It offers AirSCWO systems, a waste stream treatment system based on supercritical water oxidation that are used to treat various hazardous and non-hazardous waste streams.