374Water Inc. (NASDAQ:SCWO) Short Interest Up 444.3% in October

374Water Inc. (NASDAQ:SCWO) saw a large 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. Currently, 4.4% of the company’s 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. Based on an average daily volume of 6,040,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 4.4% of the company’s stock are short sold.

Insider Activity at 374Water

In other 374Water news, major shareholder Yaacov Nagar sold 1,499,000 shares of 374Water stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $0.46, for a total transaction of $689,540.00. Following the completion of the transaction, the insider owned 34,258,325 shares in the company, valued at approximately $15,758,829.50. The trade was a 4.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 3,845,693 shares of company stock valued at $1,788,476. Company insiders own 20.30% of the company’s stock.

Institutional Trading of 374Water

Several hedge funds and other institutional investors have recently made changes to their positions in SCWO. CW Advisors LLC purchased a new stake in shares of 374Water during the 2nd quarter valued at $117,000. Wealthedge Investment Advisors LLC lifted its holdings in shares of 374Water by 376.2% during the 1st quarter. Wealthedge Investment Advisors LLC now owns 385,610 shares of the company’s stock valued at $131,000 after purchasing an additional 304,635 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in 374Water in the 2nd quarter worth $93,000. D.A. Davidson & CO. raised its stake in 374Water by 37.5% in the 3rd quarter. D.A. Davidson & CO. now owns 1,012,894 shares of the company’s stock worth $291,000 after acquiring an additional 276,349 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in 374Water in the 2nd quarter worth $57,000. Hedge funds and other institutional investors own 12.16% of the company’s stock.

374Water Stock Down 6.2%

Shares of NASDAQ:SCWO opened at $0.40 on Thursday. The stock has a market cap of $60.37 million, a P/E ratio of -3.63 and a beta of -0.40. The business’s 50 day moving average is $0.38 and its 200 day moving average is $0.33. 374Water has a 52-week low of $0.16 and a 52-week high of $1.74.

374Water (NASDAQ:SCWO) last announced its 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 net margin of 1,278.90% and a negative return on equity of 138.71%. The company had revenue of $0.60 million for the quarter, compared to the consensus estimate of $5.20 million.

Wall Street Analyst Weigh In

SCWO has been the subject of several recent research reports. Wall Street Zen raised 374Water to a “sell” rating in a report on Saturday, October 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of 374Water in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average 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.