NET Power Inc. $NPWR Stock Holdings Increased by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC increased its holdings in NET Power Inc. (NYSE:NPWR) by 80.6% during the first quarter, Holdings Channel reports. The firm owned 743,238 shares of the company’s stock after purchasing an additional 331,726 shares during the period. HITE Hedge Asset Management LLC’s holdings in NET Power were worth $1,955,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. CenterBook Partners LP raised its holdings in shares of NET Power by 1,655.5% in the 1st quarter. CenterBook Partners LP now owns 1,744,770 shares of the company’s stock worth $4,589,000 after purchasing an additional 1,645,380 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of NET Power by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 658,563 shares of the company’s stock worth $6,976,000 after purchasing an additional 11,979 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of NET Power by 9.4% in the 4th quarter. Marshall Wace LLP now owns 448,547 shares of the company’s stock worth $4,750,000 after purchasing an additional 38,627 shares in the last quarter. Northern Trust Corp raised its holdings in shares of NET Power by 11.5% in the 4th quarter. Northern Trust Corp now owns 219,511 shares of the company’s stock worth $2,325,000 after purchasing an additional 22,604 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of NET Power by 930.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 141,958 shares of the company’s stock worth $1,505,000 after purchasing an additional 128,187 shares in the last quarter. 53.62% of the stock is currently owned by institutional investors.

NET Power Price Performance

NPWR stock opened at $2.44 on Tuesday. NET Power Inc. has a 52-week low of $1.48 and a 52-week high of $14.28. The company’s 50 day simple moving average is $2.71 and its 200-day simple moving average is $3.35. The firm has a market capitalization of $534.53 million, a P/E ratio of -1.03 and a beta of 0.72.

NET Power (NYSE:NPWR) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.24). Sell-side analysts predict that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Barclays downgraded shares of NET Power from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $3.00 to $2.00 in a report on Wednesday, April 23rd.

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.