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

Key Points

• 374Water Inc. experienced a 34.7% decline in short interest, with 692,200 shares shorted as of August 15 from 1,060,000 shares on July 31.
• Major shareholder Yaacov Nagar sold 103,379 shares for $43,419 on June 26, reducing his ownership by 0.29% to approximately $15.1 million worth of shares.
• In its most recent quarterly earnings report, 374Water missed revenue expectations significantly, reporting $0.60 million against a forecast of $5.20 million.

374Water Inc. (NASDAQ:SCWO - Get Free Report) was the target of a large drop in short interest in August. As of August 15th, there was short interest totaling 692,200 shares, adropof34.7% from the July 31st total of 1,060,000 shares. Based on an average trading volume of 2,130,000 shares, the days-to-cover ratio is presently 0.3 days. Currently,0.9% of the company's stock are short sold. Currently,0.9% of the company's stock are short sold. Based on an average trading volume of 2,130,000 shares, the days-to-cover ratio is presently 0.3 days.

Insiders Place Their Bets

In related news, major shareholder Yaacov Nagar sold 103,379 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $0.42, for a total value of $43,419.18. Following the transaction, the insider owned 35,981,721 shares of the company's stock, valued at approximately $15,112,322.82. This trade represents a 0.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 328,964 shares of company stock valued at $136,044. 20.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 374Water

Large investors have recently modified their holdings of the stock. Wealthedge Investment Advisors LLC purchased a new position in 374Water in the 4th quarter valued at approximately $55,000. Jane Street Group LLC purchased a new position in shares of 374Water in the second quarter valued at $28,000. Y Intercept Hong Kong Ltd purchased a new position in shares of 374Water in the second quarter valued at $35,000. Nuveen LLC purchased a new position in shares of 374Water in the first quarter valued at $37,000. Finally, Patron Partners LLC grew its position in shares of 374Water by 62.5% in the first quarter. Patron Partners LLC now owns 130,000 shares of the company's stock valued at $44,000 after purchasing an additional 50,000 shares in the last quarter. Hedge funds and other institutional investors own 12.16% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of 374Water in a research report on Saturday, August 30th.

374Water Trading Up 8.2%

Shares of SCWO stock traded up $0.03 during trading hours on Friday, hitting $0.39. 1,251,087 shares of the company were exchanged, compared to its average volume of 963,832. The firm has a fifty day simple moving average of $0.25 and a 200 day simple moving average of $0.31. 374Water has a 52-week low of $0.16 and a 52-week high of $1.99. The stock has a market capitalization of $59.49 million, a price-to-earnings ratio of -3.58 and a beta of -0.30.

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

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.

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