NET Power (NYSE:NPWR) Shares Down 3.8% – Here’s What Happened

NET Power Inc. (NYSE:NPWR)’s stock price traded down 3.8% during mid-day trading on Monday . The stock traded as low as $2.28 and last traded at $2.30. 244,002 shares were traded during mid-day trading, a decline of 61% from the average session volume of 632,684 shares. The stock had previously closed at $2.39.

Analyst Upgrades and Downgrades

NPWR has been the subject of a number of recent research reports. Barclays cut their target price on NET Power from $11.00 to $3.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. Citigroup upgraded shares of NET Power from a “neutral” rating to a “buy” rating and decreased their target price for the company from $14.00 to $6.00 in a report on Tuesday, March 11th.

NET Power Stock Down 1.7 %

The stock has a 50-day simple moving average of $4.95 and a 200 day simple moving average of $8.04. The company has a market cap of $511.43 million, a PE ratio of -3.51 and a beta of 0.47.

Institutional Trading of NET Power

Several institutional investors and hedge funds have recently bought and sold shares of NPWR. Covestor Ltd purchased a new position in NET Power during the 4th quarter valued at about $43,000. Janney Montgomery Scott LLC acquired a new position in shares of NET Power during the 4th quarter worth about $108,000. National Bank of Canada FI increased its stake in NET Power by 2,727.0% in the fourth quarter. National Bank of Canada FI now owns 11,930 shares of the company’s stock valued at $126,000 after purchasing an additional 11,508 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in NET Power during the fourth quarter worth approximately $137,000. Finally, Mariner LLC purchased a new stake in shares of NET Power during the 4th quarter worth approximately $139,000. 53.62% of the stock is currently owned by hedge funds and other 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.