374Water Inc. (NASDAQ:SCWO) Sees Significant Drop in Short Interest

374Water Inc. (NASDAQ:SCWO) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 382,365 shares, a decline of 79.3% from the December 15th total of 1,846,756 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average daily trading volume, of 304,185 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 304,185 shares, the days-to-cover ratio is presently 1.3 days. Currently, 2.7% of the shares of the company are short sold.

374Water Stock Up 1.6%

Shares of SCWO opened at $2.55 on Tuesday. The business’s 50 day moving average is $2.72 and its 200 day moving average is $3.02. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.01. 374Water has a 12-month low of $1.63 and a 12-month high of $10.90. The company has a market capitalization of $43.15 million, a PE ratio of -2.13 and a beta of -0.07.

374Water (NASDAQ:SCWO) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.20). 374Water had a negative return on equity of 160.15% and a negative net margin of 911.15%.The business had revenue of $0.76 million during the quarter, compared to the consensus estimate of $10.50 million.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Wall Street Zen raised shares of 374Water to a “sell” rating in a report on Saturday, December 27th. Weiss Ratings restated a “sell (e+)” rating on shares of 374Water in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Insider Buying and Selling

In other news, major shareholder Yaacov Nagar sold 47,321 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $4.30, for a total value of $203,480.30. Following the transaction, the insider owned 3,211,263 shares of the company’s stock, valued at $13,808,430.90. This trade represents a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen J. Jones acquired 45,000 shares of the stock in a transaction dated Tuesday, December 16th. The shares were bought at an average cost of $2.30 per share, for a total transaction of $103,500.00. Following the completion of the transaction, the chief executive officer owned 105,572 shares in the company, valued at approximately $242,815.60. This represents a 74.29% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have sold 144,567 shares of company stock valued at $655,986. 16.30% of the stock is owned by corporate insiders.

Institutional Trading of 374Water

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. lifted its stake in 374Water by 29.1% in the 2nd quarter. D.A. Davidson & CO. now owns 736,545 shares of the company’s stock worth $239,000 after purchasing an additional 166,080 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of 374Water during the second quarter valued at about $35,000. TFO Wealth Partners LLC bought a new stake in shares of 374Water in the third quarter worth about $34,000. Two Sigma Investments LP bought a new stake in shares of 374Water in the third quarter worth about $41,000. Finally, Jane Street Group LLC purchased a new stake in shares of 374Water in the second quarter worth about $28,000. 12.16% of the stock is currently owned by institutional investors.

About 374Water

374Water, Inc (NASDAQ: SCWO) develops and commercializes advanced water treatment technologies based on supercritical water oxidation (SCWO). The company’s flagship offering utilizes high-temperature and high-pressure conditions to oxidize organic contaminants in industrial and agricultural wastewater, converting harmful substances into benign end products such as clean water, carbon dioxide, and salts. This proprietary process is capable of destroying a wide range of pollutants, including hydrocarbons, PFAS, and biological sludges, without the need for harmful chemicals or lengthy residence times.

In addition to manufacturing modular SCWO reactors, 374Water provides end-to-end solutions encompassing system design, engineering, installation, pilot testing, commissioning, and ongoing maintenance.