NET Power (NYSE:NPWR) Posts Earnings Results, Misses Expectations By $0.05 EPS

NET Power (NYSE:NPWR) announced its quarterly earnings data on Monday. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05), Zacks reports.

NET Power Stock Down 1.8%

Shares of NPWR stock traded down $0.05 during trading on Wednesday, reaching $2.44. 753,844 shares of the company’s stock were exchanged, compared to its average volume of 799,912. The stock has a market capitalization of $546.46 million, a PE ratio of -0.41 and a beta of 1.03. NET Power has a twelve month low of $1.46 and a twelve month high of $5.20. The firm’s fifty day moving average price is $1.77 and its 200-day moving average price is $2.33.

Insider Buying and Selling at NET Power

In related news, major shareholder 8 Rivers Capital, Llc sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $2.03, for a total transaction of $304,500.00. Following the transaction, the insider directly owned 950,000 shares of the company’s stock, valued at approximately $1,928,500. The trade was a 13.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 700,000 shares of company stock worth $1,451,148. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NPWR. Adage Capital Partners GP L.L.C. increased its holdings in shares of NET Power by 16.4% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock worth $7,015,000 after acquiring an additional 400,000 shares during the last quarter. Caption Management LLC grew its holdings in NET Power by 619.8% in the 2nd quarter. Caption Management LLC now owns 401,899 shares of the company’s stock valued at $993,000 after buying an additional 346,068 shares in the last quarter. UBS Group AG grew its holdings in NET Power by 183.1% in the 3rd quarter. UBS Group AG now owns 430,452 shares of the company’s stock valued at $1,296,000 after buying an additional 278,400 shares in the last quarter. Empowered Funds LLC grew its holdings in NET Power by 99.3% in the 4th quarter. Empowered Funds LLC now owns 444,734 shares of the company’s stock valued at $1,014,000 after buying an additional 221,530 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in NET Power by 36.7% in the 3rd quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock valued at $2,474,000 after buying an additional 220,831 shares in the last quarter. 53.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of NET Power in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, NET Power presently has an average rating of “Hold” and a consensus price target of $3.50.

About NET Power

NET Power, Inc is an energy technology company focused on developing and commercializing power generation plants that burn natural gas and other fuels with near-zero carbon emissions. The company’s core innovation is the proprietary Allam-Fetvedt Cycle, a supercritical carbon dioxide power cycle that captures all carbon dioxide produced during combustion without the need for separate carbon capture systems. By integrating gas combustion, heat exchange and carbon dioxide separation into a single closed-loop process, NET Power aims to deliver baseload power with efficiencies and emissions profiles competitive with conventional and renewable generation sources.

Since demonstrating its first full-scale Allam-Cycle facility in La Porte, Texas, NET Power has moved from pilot operation toward commercial deployment.