Weiss Ratings Reiterates “Sell (E+)” Rating for 374Water (NASDAQ:SCWO)

374Water (NASDAQ:SCWO)‘s stock had its “sell (e+)” rating reaffirmed by stock analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

374Water Stock Down 13.2%

374Water stock opened at $0.35 on Friday. The business’s 50-day moving average price is $0.27 and its 200 day moving average price is $0.31. The firm has a market cap of $52.86 million, a price-to-earnings ratio of -3.18 and a beta of -0.30. 374Water has a 52 week low of $0.16 and a 52 week high of $1.95.

374Water (NASDAQ:SCWO) last released 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 return on equity of 138.71% and a negative net margin of 1,278.90%.

Insiders Place Their Bets

In other 374Water news, major shareholder Yaacov Nagar sold 122,439 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 35,813,175 shares in the company, valued at approximately $13,967,138.25. This represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 480,562 shares of company stock valued at $195,232 over the last three months. 20.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On 374Water

Institutional investors and hedge funds have recently modified their holdings of the business. CW Advisors LLC acquired a new position in 374Water in the 2nd quarter worth about $117,000. Wealthedge Investment Advisors LLC grew its holdings 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 purchasing an additional 304,635 shares during the period. Qube Research & Technologies Ltd purchased a new stake in shares of 374Water in the second quarter valued at approximately $93,000. Marshall Wace LLP acquired a new position in shares of 374Water during the 2nd quarter worth approximately $57,000. Finally, D.A. Davidson & CO. raised its stake in shares of 374Water by 29.1% during the 2nd quarter. D.A. Davidson & CO. now owns 736,545 shares of the company’s stock worth $239,000 after buying an additional 166,080 shares during the period. Hedge funds and other institutional investors 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.