Short Interest in 374Water Inc. (NASDAQ:SCWO) Rises By 22.9%

374Water Inc. (NASDAQ:SCWO) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 3,490,000 shares, a growth of 22.9% from the February 28th total of 2,840,000 shares. Currently, 4.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 321,500 shares, the days-to-cover ratio is currently 10.9 days.

374Water Stock Performance

Shares of NASDAQ SCWO traded up $0.00 during trading on Tuesday, hitting $0.34. The company had a trading volume of 206,203 shares, compared to its average volume of 196,807. The company has a market cap of $45.54 million, a P/E ratio of -4.28 and a beta of -0.01. The business’s 50-day moving average is $0.39 and its 200 day moving average is $0.90. 374Water has a 52 week low of $0.30 and a 52 week high of $1.99.

374Water (NASDAQ:SCWO) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.10 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of 374Water in a research report on Saturday, March 22nd.

Insiders Place Their Bets

In other news, major shareholder Yaacov Nagar sold 61,268 shares of the company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $0.63, for a total value of $38,598.84. Following the completion of the sale, the insider now owns 36,989,484 shares in the company, valued at $23,303,374.92. This represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders have sold 567,224 shares of company stock worth $289,063. 54.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 374Water

Large investors have recently made changes to their positions in the company. Highbridge Capital Management LLC acquired a new stake in 374Water during the 4th quarter valued at $765,000. Raymond James Financial Inc. acquired a new position in 374Water during the fourth quarter valued at $255,000. Geode Capital Management LLC raised its position in 374Water by 11.3% during the third quarter. Geode Capital Management LLC now owns 1,556,928 shares of the company’s stock valued at $2,118,000 after buying an additional 158,482 shares during the period. JPMorgan Chase & Co. lifted its stake in 374Water by 109.8% in the 4th quarter. JPMorgan Chase & Co. now owns 261,333 shares of the company’s stock worth $178,000 after acquiring an additional 136,753 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in 374Water by 20.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 498,529 shares of the company’s stock worth $678,000 after acquiring an additional 83,198 shares during the period. Institutional investors and hedge funds own 12.16% of the company’s stock.

About 374Water

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.