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

374Water Inc. (NASDAQ:SCWO) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 3,250,000 shares, an increase of 444.3% from the September 30th total of 597,100 shares. Based on an average daily volume of 6,040,000 shares, the days-to-cover ratio is presently 0.5 days. Approximately 4.4% of the shares of the stock are short sold. Approximately 4.4% of the shares of the stock are short sold. Based on an average daily volume of 6,040,000 shares, the days-to-cover ratio is presently 0.5 days.

Insider Activity

In other news, major shareholder Yaacov Nagar sold 473,211 shares of 374Water stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $0.43, for a total value of $203,480.73. Following the sale, the insider owned 32,112,632 shares in the company, valued at $13,808,431.76. This trade represents a 1.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 3,845,693 shares of company stock valued at $1,788,476 in the last quarter. 20.30% of the stock is owned by company insiders.

Institutional Trading of 374Water

Several institutional investors and hedge funds have recently bought and sold shares of the business. D.A. Davidson & CO. raised its position in 374Water by 21.6% during the 1st quarter. D.A. Davidson & CO. now owns 570,465 shares of the company’s stock worth $194,000 after buying an additional 101,285 shares during the last quarter. Sentinel Trust Co. LBA raised its position in 374Water by 30.8% during the 1st quarter. Sentinel Trust Co. LBA now owns 401,300 shares of the company’s stock worth $136,000 after buying an additional 94,500 shares during the last quarter. Sigma Planning Corp raised its position in 374Water by 47.1% during the 1st quarter. Sigma Planning Corp now owns 270,693 shares of the company’s stock worth $92,000 after buying an additional 86,733 shares during the last quarter. Nuveen LLC purchased a new position in 374Water during the 1st quarter worth $37,000. Finally, Wealthedge Investment Advisors LLC raised its position in 374Water by 376.2% during the 1st quarter. Wealthedge Investment Advisors LLC now owns 385,610 shares of the company’s stock worth $131,000 after buying an additional 304,635 shares during the last quarter. Hedge funds and other institutional investors own 12.16% of the company’s stock.

374Water Price Performance

Shares of SCWO stock opened at $0.39 on Tuesday. The firm’s 50-day moving average is $0.37 and its two-hundred day moving average is $0.32. The company has a market capitalization of $58.46 million, a PE ratio of -3.52 and a beta of -0.40. 374Water has a 12 month low of $0.16 and a 12 month high of $1.93.

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

Analyst Ratings Changes

SCWO has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of 374Water in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of 374Water to a “sell” rating in a research report on Saturday, October 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

374Water Company Profile

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.