NET Power (NYSE:NPWR) Stock Price Down 4.3% – Here’s Why

NET Power Inc. (NYSE:NPWR)’s share price fell 4.3% during mid-day trading on Wednesday . The company traded as low as $8.93 and last traded at $9.23. 186,520 shares were traded during trading, a decline of 64% from the average session volume of 521,723 shares. The stock had previously closed at $9.65.

Analysts Set New Price Targets

Separately, US Capital Advisors raised NET Power to a “strong-buy” rating in a research note on Monday, October 28th.

NET Power Trading Down 2.5 %

The stock’s 50-day simple moving average is $10.92 and its 200 day simple moving average is $9.21.

NET Power (NYSE:NPWR) last released its earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.17. During the same quarter last year, the company posted ($0.44) EPS. On average, equities research analysts expect that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Akash S. Patel sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $12.65, for a total value of $1,897,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder 8 Rivers Capital, Llc sold 431,009 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $12.76, for a total value of $5,499,674.84. The disclosure for this sale can be found here. Insiders have sold 901,380 shares of company stock worth $11,433,849 in the last quarter. Insiders own 2.71% of the company’s stock.

Institutional Trading of NET Power

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new stake in shares of NET Power in the second quarter valued at $662,000. Rhumbline Advisers bought a new stake in NET Power in the 2nd quarter valued at about $282,000. XTX Topco Ltd purchased a new stake in NET Power during the second quarter valued at about $133,000. Khrom Capital Management LLC boosted its position in NET Power by 9.6% during the second quarter. Khrom Capital Management LLC now owns 440,596 shares of the company’s stock worth $4,331,000 after purchasing an additional 38,500 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of NET Power by 226.9% in the second quarter. Marshall Wace LLP now owns 583,688 shares of the company’s stock worth $5,738,000 after purchasing an additional 405,128 shares in the last quarter. Institutional investors own 53.62% of the company’s stock.

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.