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

374Water Inc. (NASDAQ:SCWO) saw a significant decline in short interest in January. As of January 15th, there was short interest totalling 2,030,000 shares, a decline of 31.6% from the December 31st total of 2,970,000 shares. Currently, 2.8% of the shares of the company are sold short. Based on an average daily volume of 271,000 shares, the days-to-cover ratio is presently 7.5 days.

Insider Activity

In related news, major shareholder Yaacov Nagar sold 37,832 shares of 374Water stock in a transaction on Monday, November 4th. The stock was sold at an average price of $1.41, for a total transaction of $53,343.12. Following the completion of the sale, the insider now owns 37,499,420 shares of the company’s stock, valued at approximately $52,874,182.20. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc Deshusses acquired 32,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average cost of $1.25 per share, with a total value of $40,000.00. Following the purchase, the director now directly owns 22,652,451 shares of the company’s stock, valued at $28,315,563.75. This trade represents a 0.14 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 172,800 shares of company stock worth $216,000 and sold 242,638 shares worth $233,237. 54.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On 374Water

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in shares of 374Water by 11.3% during the 3rd 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 holdings in shares of 374Water by 324.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 124,580 shares of the company’s stock valued at $169,000 after buying an additional 95,249 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of 374Water by 20.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 498,529 shares of the company’s stock valued at $678,000 after buying an additional 83,198 shares during the period. Patron Partners LLC bought a new position in shares of 374Water during the 4th quarter valued at $55,000. Finally, Barclays PLC lifted its holdings in shares of 374Water by 299.1% during the 3rd quarter. Barclays PLC now owns 94,506 shares of the company’s stock valued at $128,000 after buying an additional 70,828 shares during the period. 12.16% of the stock is owned by institutional investors.

374Water Stock Performance

Shares of SCWO traded down $0.04 during mid-day trading on Friday, reaching $0.52. The company had a trading volume of 135,822 shares, compared to its average volume of 400,406. The firm has a 50-day moving average price of $0.75 and a 200 day moving average price of $1.13. 374Water has a 52 week low of $0.48 and a 52 week high of $1.99. The company has a market capitalization of $68.61 million, a price-to-earnings ratio of -6.44 and a beta of -0.43.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of 374Water in a report on Saturday, January 18th.

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.