NET Power (NYSE:NPWR) Trading Up 15.4% – What’s Next?

NET Power Inc. (NYSE:NPWR) shares rose 15.4% during mid-day trading on Friday . The company traded as high as $3.45 and last traded at $3.60. Approximately 392,077 shares changed hands during trading, a decline of 70% from the average daily volume of 1,307,238 shares. The stock had previously closed at $3.12.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of NET Power in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.00.

NET Power Trading Up 8.8%

The stock has a market capitalization of $744.25 million, a PE ratio of -1.44 and a beta of 0.75. The firm’s fifty day moving average price is $2.60 and its two-hundred day moving average price is $2.43.

NET Power (NYSE:NPWR) last posted its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.24). As a group, sell-side analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NET Power

Institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new position in shares of NET Power during the 2nd quarter valued at approximately $25,000. Invesco Ltd. purchased a new position in shares of NET Power during the 2nd quarter valued at approximately $25,000. Sei Investments Co. purchased a new position in shares of NET Power during the 2nd quarter valued at approximately $32,000. Deutsche Bank AG grew its stake in NET Power by 63.0% in the 1st quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock valued at $37,000 after acquiring an additional 5,429 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in NET Power by 48.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock valued at $40,000 after acquiring an additional 5,255 shares during the period. 53.62% of the stock is owned by hedge funds and other institutional investors.

About NET Power

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.