Akash S. Patel Sells 150,000 Shares of NET Power Inc. (NYSE:NPWR) Stock

NET Power Inc. (NYSE:NPWR) CFO Akash S. Patel sold 150,000 shares of NET Power stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $12.65, for a total transaction of $1,897,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

NET Power Price Performance

Shares of NYSE NPWR traded down $0.84 on Tuesday, reaching $12.45. 974,514 shares of the company’s stock traded hands, compared to its average volume of 416,287. NET Power Inc. has a 12 month low of $6.57 and a 12 month high of $14.28. The business’s 50 day simple moving average is $8.80 and its two-hundred day simple moving average is $9.18.

NET Power (NYSE:NPWR) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.17. During the same quarter in the prior year, the company posted ($0.44) EPS. Analysts expect that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On NET Power

Several institutional investors and hedge funds have recently made changes to their positions in NPWR. Encompass Capital Advisors LLC bought a new stake in shares of NET Power during the second quarter valued at approximately $20,537,000. Vanguard Group Inc. grew its position in NET Power by 65.1% in the 1st quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock worth $27,617,000 after purchasing an additional 956,134 shares during the period. Marshall Wace LLP grew its position in NET Power by 226.9% in the 2nd quarter. Marshall Wace LLP now owns 583,688 shares of the company’s stock worth $5,738,000 after purchasing an additional 405,128 shares during the period. Geode Capital Management LLC grew its position in NET Power by 21.7% in the 3rd quarter. Geode Capital Management LLC now owns 646,584 shares of the company’s stock worth $4,535,000 after purchasing an additional 115,189 shares during the period. Finally, Thomist Capital Management LP bought a new stake in NET Power in the 2nd quarter worth approximately $1,073,000. Institutional investors own 53.62% of the company’s stock.

Analyst Upgrades and Downgrades

NPWR has been the subject of a number of research analyst reports. US Capital Advisors raised shares of NET Power to a “strong-buy” rating in a report on Monday, October 28th. Citigroup lowered their price objective on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Barclays lowered their price objective on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 14th.

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.