NET Power (NYSE:NPWR) Stock Price Up 7.8% – Here’s Why

NET Power Inc. (NYSE:NPWR) shares traded up 7.8% during mid-day trading on Monday . The company traded as high as $3.11 and last traded at $3.17. 114,397 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 595,464 shares. The stock had previously closed at $2.94.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NPWR. Citigroup upgraded NET Power from a “neutral” rating to a “buy” rating and cut their price target for the stock from $14.00 to $6.00 in a research note on Tuesday, March 11th. Barclays cut their price objective on NET Power from $11.00 to $3.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th.

NET Power Stock Performance

The business has a 50-day simple moving average of $6.93 and a 200-day simple moving average of $8.53.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NPWR. Williams Jones Wealth Management LLC. purchased a new stake in NET Power during the 4th quarter valued at about $159,000. Man Group plc purchased a new position in NET Power during the fourth quarter valued at $1,066,000. Interval Partners LP purchased a new position in shares of NET Power in the fourth quarter valued at approximately $168,000. Bank of America Corp DE grew its holdings in shares of NET Power by 42.8% in the fourth quarter. Bank of America Corp DE now owns 23,263 shares of the company’s stock valued at $246,000 after purchasing an additional 6,975 shares during the period. Finally, Northern Trust Corp increased its stake in NET Power by 11.5% during the fourth quarter. Northern Trust Corp now owns 219,511 shares of the company’s stock worth $2,325,000 after acquiring an additional 22,604 shares during the last quarter. Hedge funds and other institutional investors own 53.62% of the company’s stock.

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.