Investors Buy Large Volume of NET Power Call Options (NYSE:NPWR)

NET Power Inc. (NYSE:NPWR) saw some unusual options trading on Friday. Investors bought 11,168 call options on the stock. This represents an increase of approximately 1,155% compared to the typical daily volume of 890 call options.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NPWR. Barclays lowered NET Power from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $3.00 to $2.00 in a research report on Wednesday, April 23rd. Citigroup upgraded NET Power from a “neutral” rating to a “buy” rating and cut their target price for the company from $14.00 to $6.00 in a research report on Tuesday, March 11th.

NET Power Price Performance

Shares of NET Power stock opened at $2.13 on Friday. The stock’s 50-day moving average is $2.01 and its 200 day moving average is $6.47. NET Power has a one year low of $1.48 and a one year high of $14.28. The firm has a market cap of $466.61 million, a price-to-earnings ratio of -1.03 and a beta of 0.51.

NET Power (NYSE:NPWR) last posted its quarterly earnings results on Monday, May 12th. The company reported ($1.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.44). On average, sell-side analysts expect that NET Power will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in NET Power by 13.1% during the 4th quarter. Vanguard Group Inc. now owns 2,865,402 shares of the company’s stock worth $30,345,000 after buying an additional 332,554 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in NET Power by 176.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 155,088 shares of the company’s stock worth $1,642,000 after buying an additional 98,952 shares during the period. Raymond James Financial Inc. acquired a new position in NET Power during the 4th quarter worth approximately $1,264,000. Janney Montgomery Scott LLC acquired a new position in NET Power during the 4th quarter worth approximately $108,000. Finally, Handelsbanken Fonder AB acquired a new position in NET Power during the 4th quarter worth approximately $175,000. 53.62% of the stock is owned by institutional investors and hedge funds.

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.