374Water (NASDAQ:SCWO) Issues Earnings Results

374Water (NASDAQ:SCWO) issued its quarterly earnings data on Thursday. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01), Zacks reports. The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.10 million.

374Water Stock Performance

374Water stock opened at $0.34 on Friday. The stock has a 50-day simple moving average of $0.40 and a 200-day simple moving average of $0.91. The company has a market capitalization of $44.74 million, a P/E ratio of -4.20 and a beta of -0.01. 374Water has a fifty-two week low of $0.30 and a fifty-two week high of $1.99.

Insiders Place Their Bets

In other 374Water news, major shareholder Yaacov Nagar sold 144,860 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $0.43, for a total transaction of $62,289.80. Following the transaction, the insider now directly owns 36,400,896 shares of the company’s stock, valued at approximately $15,652,385.28. This trade represents a 0.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 567,224 shares of company stock valued at $289,063 over the last quarter. Company insiders own 54.32% of the company’s stock.

Analysts Set New Price Targets

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

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.