374Water (NASDAQ:SCWO) Shares to Reverse Split on Friday, December 26th

Shares of 374Water Inc. (NASDAQ:SCWO) are going to reverse split before the market opens on Friday, December 26th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, December 25th.

374Water Price Performance

Shares of 374Water stock opened at $0.23 on Thursday. The business has a 50 day simple moving average of $0.35 and a two-hundred day simple moving average of $0.32. 374Water has a 12 month low of $0.16 and a 12 month high of $1.09. The stock has a market capitalization of $39.49 million, a P/E ratio of -1.94 and a beta of -0.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.44 and a quick ratio of 1.00.

374Water (NASDAQ:SCWO) last released its earnings results on Wednesday, November 12th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The firm had revenue of $0.76 million during the quarter, compared to analysts’ expectations of $10.50 million. 374Water had a negative net margin of 911.15% and a negative return on equity of 160.15%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SCWO shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 374Water in a research note on Wednesday, October 8th. Wall Street Zen raised shares of 374Water to a “sell” rating in a research note on Saturday, October 18th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Insiders Place Their Bets

In other 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 transaction, the insider owned 34,258,325 shares in the company, valued at $15,758,829.50. The trade was a 4.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen J. Jones purchased 450,000 shares of the stock in a transaction dated Tuesday, December 16th. The shares were purchased at an average cost of $0.23 per share, for a total transaction of $103,500.00. Following the transaction, the chief executive officer owned 1,055,723 shares in the company, valued at approximately $242,816.29. The trade was a 74.29% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 3,645,693 shares of company stock worth $1,709,928 in the last three months. 16.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On 374Water

Hedge funds have recently modified their holdings of the business. Nuveen LLC acquired a new stake in shares of 374Water during the 1st quarter worth about $37,000. D.A. Davidson & CO. raised its stake in shares of 374Water by 29.1% in the 2nd quarter. D.A. Davidson & CO. now owns 736,545 shares of the company’s stock valued at $239,000 after acquiring an additional 166,080 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of 374Water in the 2nd quarter worth approximately $35,000. CW Advisors LLC purchased a new position in shares of 374Water during the 2nd quarter worth approximately $117,000. Finally, Marshall Wace LLP acquired a new stake in 374Water in the 2nd quarter valued at approximately $57,000. 12.16% of the stock is currently owned by hedge funds and other institutional investors.

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.