374Water (NASDAQ:SCWO) Releases Quarterly Earnings Results

374Water (NASDAQ:SCWO) announced its earnings results on Friday. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.05, FiscalAI reports. The company had revenue of $2.26 million for the quarter, compared to analyst estimates of $0.50 million.

374Water Stock Performance

374Water stock opened at $2.50 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.42 and a quick ratio of 0.93. 374Water has a 12 month low of $1.75 and a 12 month high of $10.90. The company has a fifty day moving average price of $2.17 and a two-hundred day moving average price of $2.54. The company has a market cap of $44.30 million, a PE ratio of -2.91 and a beta of -0.39.

Hedge Funds Weigh In On 374Water

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in 374Water in the fourth quarter valued at $26,000. Two Sigma Investments LP acquired a new position in 374Water during the 3rd quarter valued at about $41,000. Jane Street Group LLC bought a new stake in shares of 374Water during the second quarter valued at approximately $28,000. Qube Research & Technologies Ltd bought a new position in 374Water in the 2nd quarter worth approximately $93,000. Finally, Marshall Wace LLP bought a new stake in shares of 374Water during the second quarter valued at about $57,000. 12.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 374Water in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

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.