NET Power (NYSE:NPWR) Trading Down 7.3% – Here’s Why

Shares of NET Power Inc. (NYSE:NPWR) fell 7.3% on Monday . The stock traded as low as $11.58 and last traded at $11.87. 247,840 shares were traded during mid-day trading, a decline of 41% from the average session volume of 416,773 shares. The stock had previously closed at $12.81.

Analysts Set New Price Targets

Several brokerages have commented on NPWR. US Capital Advisors raised NET Power to a “strong-buy” rating in a research report on Monday, October 28th. Citigroup dropped their price objective on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, Barclays cut their price objective on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 14th.

NET Power Stock Down 2.7 %

The business has a 50 day moving average price of $9.46 and a 200 day moving average price of $9.23.

NET Power (NYSE:NPWR) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.17. During the same quarter in the previous year, the company earned ($0.44) EPS. As a group, equities research analysts anticipate that NET Power Inc. will post -0.4 EPS for the current year.

Insider Activity

In other NET Power news, major shareholder Npeh, Llc sold 60,022 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $7.60, for a total transaction of $456,167.20. Following the transaction, the insider now owns 129,307 shares in the company, valued at approximately $982,733.20. This represents a 31.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder 8 Rivers Capital, Llc sold 431,009 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $12.76, for a total transaction of $5,499,674.84. The disclosure for this sale can be found here. Insiders have sold a total of 2,022,884 shares of company stock worth $19,438,603 over the last 90 days. 2.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NET Power

Several hedge funds and other institutional investors have recently modified their holdings of NPWR. Pekin Hardy Strauss Inc. lifted its stake in shares of NET Power by 5.4% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 29,365 shares of the company’s stock worth $289,000 after purchasing an additional 1,500 shares during the period. ELCO Management Co. LLC increased its holdings in NET Power by 13.4% during the second quarter. ELCO Management Co. LLC now owns 20,924 shares of the company’s stock valued at $206,000 after buying an additional 2,474 shares during the last quarter. MetLife Investment Management LLC raised its position in NET Power by 129.1% in the third quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock worth $91,000 after acquiring an additional 7,281 shares during the period. HITE Hedge Asset Management LLC boosted its stake in shares of NET Power by 2.6% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 387,624 shares of the company’s stock worth $2,717,000 after acquiring an additional 9,987 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of NET Power during the 3rd quarter valued at $82,000. 53.62% of the stock is owned by institutional investors.

NET Power Company Profile

NET Power Inc operates as a clean energy technology company. The company invents, develops, and licenses clean power generation technology. NET Power Inc was founded in 2010 and is headquartered in Durham, North Carolina.