NET Power (NYSE:NPWR) Stock Price Down 7.3% – Should You Sell?

NET Power Inc. (NYSE:NPWR) shares traded down 7.3% during mid-day trading on Thursday . The company traded as low as $2.18 and last traded at $2.2350. 407,750 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 801,070 shares. The stock had previously closed at $2.41.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, NET Power presently has an average rating of “Hold” and an average price target of $3.50.

NET Power Stock Down 8.5%

The business has a fifty day simple moving average of $1.77 and a 200-day simple moving average of $2.32. The firm has a market cap of $494.84 million, a P/E ratio of -0.37 and a beta of 1.03.

NET Power (NYSE:NPWR) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05).

Insider Buying and Selling at NET Power

In other news, major shareholder 8 Rivers Capital, Llc sold 125,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $2.14, for a total transaction of $267,500.00. Following the completion of the transaction, the insider directly owned 650,000 shares in the company, valued at $1,391,000. This trade represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 550,000 shares of company stock worth $1,146,648 in the last ninety days. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On NET Power

Several institutional investors and hedge funds have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. increased its holdings in shares of NET Power by 16.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock valued at $7,015,000 after acquiring an additional 400,000 shares in the last quarter. CenterBook Partners LP increased its holdings in shares of NET Power by 48.0% during the fourth quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock valued at $4,214,000 after acquiring an additional 599,725 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of NET Power by 21.4% during the second quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock valued at $2,078,000 after acquiring an additional 148,307 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of NET Power by 36.7% during the third quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock valued at $2,474,000 after acquiring an additional 220,831 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of NET Power by 1.5% during the fourth quarter. State Street Corp now owns 603,694 shares of the company’s stock valued at $1,376,000 after acquiring an additional 9,001 shares in the last quarter. 53.62% of the stock is currently owned by institutional investors.

NET Power Company Profile

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.