NET Power (NYSE:NPWR) Stock Price Down 4.1% – Here’s What Happened

Shares of NET Power Inc. (NYSE:NPWR) were down 4.1% during trading on Wednesday. The company traded as low as $0.8211 and last traded at $0.83. Approximately 403,780 shares traded hands during trading, a decline of 30% from the average daily volume of 576,140 shares. The stock had previously closed at $0.8658.

Analysts Set New Price Targets

Several research analysts recently issued reports on NPWR shares. Wall Street Zen lowered shares of NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Weiss Ratings lowered shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 22nd. Northland Securities began coverage on shares of NET Power in a report on Monday, September 14th. They issued an “outperform” rating and a $2.75 price objective on the stock. Finally, Zacks Research raised shares of NET Power to a “hold” rating in a research note on Tuesday, September 15th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, NET Power presently has an average rating of “Hold” and an average target price of $3.25.

NET Power Trading Up 5.7%

The company has a market cap of $181.91 million, a P/E ratio of 0.18 and a beta of 1.25. The stock’s 50 day moving average is $1.38 and its 200-day moving average is $1.71.

NET Power (NYSE:NPWR) last issued its earnings results on Thursday, August 13th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.84). As a group, sell-side analysts forecast that NET Power Inc. will post -1.14 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder 8 Rivers Capital, Llc sold 507,100 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $1.95, for a total value of $988,845.00. Following the transaction, the insider directly owned 1,242,900 shares of the company’s stock, valued at approximately $2,423,655. This represents a 28.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 1,340,400 shares of company stock valued at $2,470,154. 2.06% of the stock is owned by insiders.

Institutional Trading of NET Power

A number of institutional investors and hedge funds have recently modified their holdings of the business. MRA Advisory Group bought a new stake in NET Power in the 3rd quarter worth about $320,000. Tidal Investments LLC raised its holdings in shares of NET Power by 190.0% during the second quarter. Tidal Investments LLC now owns 1,546,562 shares of the company’s stock valued at $2,583,000 after purchasing an additional 1,013,309 shares during the last quarter. SIR Capital Management L.P. bought a new position in NET Power during the second quarter valued at approximately $183,000. Bank of New York Mellon Corp purchased a new stake in NET Power in the second quarter worth approximately $140,000. Finally, Bank of America Corp DE boosted its holdings in NET Power by 40.1% in the first quarter. Bank of America Corp DE now owns 35,083 shares of the company’s stock worth $55,000 after purchasing an additional 10,034 shares during the last quarter. Institutional investors own 53.62% of the company’s stock.

NET Power Company Profile

NET Power Inc is a clean-energy technology company developing power-generation systems designed to produce electricity while capturing carbon dioxide emissions. Its proprietary Allam-Fetvedt Cycle uses high-pressure carbon dioxide as the working fluid in a closed-loop process, enabling the company’s systems to generate power from natural gas with carbon capture integrated into the plant design.

The company’s technology is intended to produce electricity, pipeline-quality carbon dioxide and water, while avoiding the conventional emissions associated with fossil-fuel power generation.