Weiss Ratings Reaffirms Sell (E+) Rating for 374Water (NASDAQ:SCWO)

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

374Water Stock Down 2.1%

NASDAQ SCWO opened at $0.24 on Tuesday. The stock has a market cap of $35.10 million, a PE ratio of -2.43 and a beta of -0.22. 374Water has a fifty-two week low of $0.16 and a fifty-two week high of $1.99. The business has a 50 day moving average price of $0.32 and a two-hundred day moving average price of $0.35.

374Water (NASDAQ:SCWO) last released its earnings results on Thursday, May 15th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $0.54 million for the quarter, compared to analysts’ expectations of $0.10 million. 374Water had a negative net margin of 2,093.18% and a negative return on equity of 119.57%.

Insider Activity at 374Water

In other news, major shareholder Yaacov Nagar sold 103,379 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $0.42, for a total transaction of $43,419.18. Following the completion of the transaction, the insider directly owned 35,981,721 shares in the company, valued at approximately $15,112,322.82. This represents a 0.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders purchased 129,593 shares of company stock worth $46,478 and sold 328,964 shares worth $136,044. Company insiders own 20.30% of the company’s stock.

Hedge Funds Weigh In On 374Water

Several institutional investors and hedge funds have recently made changes to their positions in SCWO. Raymond James Financial Inc. purchased a new position in shares of 374Water during the 4th quarter valued at approximately $255,000. Wealthedge Investment Advisors LLC boosted its stake 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 buying an additional 304,635 shares during the last quarter. D.A. Davidson & CO. lifted its stake in 374Water by 29.1% during the second quarter. D.A. Davidson & CO. now owns 736,545 shares of the company’s stock worth $239,000 after purchasing an additional 166,080 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in 374Water by 109.8% during the fourth quarter. JPMorgan Chase & Co. now owns 261,333 shares of the company’s stock worth $178,000 after purchasing an additional 136,753 shares during the last quarter. Finally, Nuveen LLC bought a new position in 374Water during the first quarter worth $37,000. 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.