374Water Inc. (NASDAQ:SCWO) Short Interest Update

Key Points

• Short interest in 374Water Inc. increased by 74.8% in August, totaling 1,210,000 shares, which constitutes 1.7% of the company's stock.
• Insider Yaacov Nagar recently sold 122,439 shares for approximately $47,751, reducing their ownership by 0.34% while still holding over 35 million shares.
• Analysts have given 374Water a reiteration of a “sell” rating, as the company reported a significant revenue miss with only $0.60 million compared to expectations of $5.20 million.

374Water Inc. (NASDAQ:SCWO - Get Free Report) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 1,210,000 shares, an increase of 74.8% from the August 15th total of 692,200 shares. Currently, 1.7% of the company's stock are short sold. Based on an average daily volume of 1,340,000 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily volume of 1,340,000 shares, the days-to-cover ratio is presently 0.9 days. Currently, 1.7% of the company's stock are short sold.

Insiders Place Their Bets

In other news, major shareholder Yaacov Nagar sold 122,439 shares of 374Water stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $0.39, for a total value of $47,751.21. Following the completion of the sale, the insider directly owned 35,813,175 shares in the company, valued at $13,967,138.25. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 480,562 shares of company stock worth $195,232. 20.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 374Water

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CW Advisors LLC purchased a new stake in shares of 374Water during the second quarter worth $117,000. Wealthedge Investment Advisors LLC lifted its position in 374Water by 376.2% in the first quarter. Wealthedge Investment Advisors LLC now owns 385,610 shares of the company's stock valued at $131,000 after buying an additional 304,635 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in 374Water during the second quarter worth about $93,000. Marshall Wace LLP purchased a new stake in shares of 374Water during the second quarter worth approximately $57,000. Finally, D.A. Davidson & CO. increased its stake in 374Water by 29.1% in the second quarter. D.A. Davidson & CO. now owns 736,545 shares of the company's stock valued at $239,000 after purchasing an additional 166,080 shares during the last quarter. Hedge funds and other institutional investors own 12.16% of the company's stock.

Analyst Ratings Changes

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

374Water Trading Down 4.5%

Shares of NASDAQ SCWO traded down $0.02 during mid-day trading on Monday, reaching $0.39. The company had a trading volume of 188,152 shares, compared to its average volume of 1,036,023. 374Water has a 52 week low of $0.16 and a 52 week high of $1.95. The business's 50-day moving average is $0.27 and its 200-day moving average is $0.31. The stock has a market cap of $58.15 million, a price-to-earnings ratio of -3.50 and a beta of -0.30.

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

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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