NET Power (NYSE:NPWR) Shares Gap Down – What’s Next?

NET Power Inc. (NYSE:NPWR)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $2.61, but opened at $2.53. NET Power shares last traded at $2.55, with a volume of 98,806 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NPWR shares. Barclays cut NET Power from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $3.00 to $2.00 in a report on Wednesday, April 23rd. Citigroup upgraded NET Power from a “neutral” rating to a “buy” rating and cut their target price for the stock from $14.00 to $6.00 in a research report on Tuesday, March 11th.

NET Power Price Performance

The firm’s 50-day moving average price is $2.01 and its 200-day moving average price is $5.88. The stock has a market cap of $545.26 million, a P/E ratio of -1.21 and a beta of 0.64.

NET Power (NYSE:NPWR) last announced its quarterly earnings results on Monday, May 12th. The company reported ($1.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.44). Sell-side analysts expect that NET Power Inc. will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On NET Power

Several large investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. boosted its stake in NET Power by 481.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 2,440,000 shares of the company’s stock valued at $6,417,000 after buying an additional 2,020,000 shares during the last quarter. PDT Partners LLC purchased a new stake in shares of NET Power during the 1st quarter worth approximately $294,000. Caption Management LLC purchased a new stake in shares of NET Power during the 1st quarter worth approximately $147,000. EntryPoint Capital LLC bought a new position in shares of NET Power during the 1st quarter valued at approximately $126,000. Finally, HITE Hedge Asset Management LLC grew its holdings in shares of NET Power by 80.6% in the first quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company’s stock valued at $1,955,000 after purchasing an additional 331,726 shares in the last quarter. 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.