Tidal Investments LLC Increases Stock Position in NET Power Inc. $NPWR

Tidal Investments LLC lifted its position in shares of NET Power Inc. (NYSE:NPWR) by 190.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,546,562 shares of the company’s stock after purchasing an additional 1,013,309 shares during the period. Tidal Investments LLC’s holdings in NET Power were worth $2,583,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SIR Capital Management L.P. purchased a new stake in NET Power in the 2nd quarter valued at about $183,000. Bank of New York Mellon Corp purchased a new position in shares of NET Power in the 2nd quarter worth approximately $140,000. Bank of America Corp DE boosted its stake in shares of NET Power by 40.1% in the 1st quarter. Bank of America Corp DE now owns 35,083 shares of the company’s stock worth $55,000 after buying an additional 10,034 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of NET Power by 644.0% in the first quarter. Renaissance Technologies LLC now owns 703,800 shares of the company’s stock valued at $1,098,000 after acquiring an additional 609,200 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of NET Power during the first quarter valued at approximately $30,000. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 507,100 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $1.95, for a total value of $988,845.00. Following the completion of the sale, the insider directly owned 1,242,900 shares of the company’s stock, valued at $2,423,655. This trade represents a 28.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 2,005,858 shares of company stock worth $3,460,668 over the last three months. 2.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on NPWR shares. Wall Street Zen lowered NET Power from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. Weiss Ratings upgraded NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 8th. Finally, Northland Securities assumed coverage on NET Power in a research report on Monday. They set an “outperform” rating and a $2.75 target price for the company. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $3.25.

NET Power Stock Down 0.3%

NPWR opened at $1.79 on Wednesday. The stock has a market cap of $403.62 million, a price-to-earnings ratio of -0.28 and a beta of 1.10. NET Power Inc. has a twelve month low of $1.35 and a twelve month high of $5.20. The company’s 50-day moving average price is $1.66 and its two-hundred day moving average price is $1.75.

NET Power (NYSE:NPWR) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.84).

NET Power Profile

NET Power Inc (NYSE: NPWR) is a clean-energy technology company focused on producing electricity from natural gas while capturing carbon dioxide emissions. Its technology is designed to generate reliable power with substantially reduced atmospheric emissions compared with conventional natural-gas power plants.

The company’s principal technology is the Allam-Fetvedt Cycle, a process that uses high-pressure carbon dioxide as the working fluid in an oxy-combustion power cycle. The process is intended to produce electricity while capturing carbon dioxide in a concentrated form for transportation, storage, or potential industrial use.