NET Power (NYSE:NPWR) Shares Down 5.1% on Analyst Downgrade

NET Power Inc. (NYSE:NPWR)’s stock price was down 5.1% on Wednesday after Barclays lowered their price target on the stock from $11.00 to $3.00. Barclays currently has an equal weight rating on the stock. NET Power traded as low as $2.87 and last traded at $3.06. Approximately 547,307 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 973,301 shares. The stock had previously closed at $3.22.

Separately, Citigroup upgraded shares of NET Power from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $14.00 to $6.00 in a report on Tuesday.

Institutional Investors Weigh In On NET Power

Several institutional investors and hedge funds have recently made changes to their positions in NPWR. Covestor Ltd acquired a new position in NET Power during the 4th quarter valued at about $43,000. Dynamic Technology Lab Private Ltd bought a new position in shares of NET Power in the 3rd quarter valued at about $82,000. MetLife Investment Management LLC lifted its stake in shares of NET Power by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock worth $91,000 after buying an additional 7,281 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of NET Power during the 4th quarter worth about $108,000. Finally, National Bank of Canada FI lifted its stake in shares of NET Power by 2,727.0% during the 4th quarter. National Bank of Canada FI now owns 11,930 shares of the company’s stock worth $126,000 after buying an additional 11,508 shares during the last quarter. Institutional investors and hedge funds own 53.62% of the company’s stock.

NET Power Stock Down 3.9 %

The firm’s 50 day simple moving average is $8.34 and its two-hundred day simple moving average is $8.88.

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.