NET Power (NYSE:NPWR) Stock Price Down 6.6% – Here’s What Happened

by · The Cerbat Gem

NET Power Inc. (NYSE:NPWR – Get Free Report) shares traded down 6.6% during trading on Wednesday . The company traded as low as $2.64 and last traded at $2.6050. 128,375 shares were traded during trading, a decline of 91% from the average session volume of 1,435,216 shares. The stock had previously closed at $2.79.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of NET Power in a report on Wednesday, October 8th. Barclays upgraded NET Power from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $2.00 to $3.00 in a research report on Friday, November 14th. Finally, Citigroup decreased their target price on NET Power from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, NET Power presently has an average rating of “Hold” and a consensus target price of $3.50.

Check Out Our Latest Stock Report on NPWR

NET Power Price Performance

The firm’s fifty day moving average price is $3.33 and its two-hundred day moving average price is $2.84. The stock has a market cap of $567.57 million, a price-to-earnings ratio of -0.33 and a beta of 0.80.

NET Power (NYSE:NPWR – Get Free Report) last issued its earnings results on Thursday, November 13th. The company reported $5.84 EPS for the quarter, beating the consensus estimate of ($0.16) by $6.00. On average, equities research analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder 8 Rivers Capital, Llc sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2.82, for a total transaction of $112,800.00. Following the completion of the sale, the insider owned 2,550,000 shares in the company, valued at $7,191,000. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 3,468,116 shares of company stock valued at $12,212,633 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Institutional Trading of NET Power

Several hedge funds have recently bought and sold shares of NPWR. Janney Montgomery Scott LLC bought a new stake in NET Power during the 2nd quarter valued at $25,000. Invesco Ltd. acquired a new position in shares of NET Power during the second quarter valued at about $25,000. Sei Investments Co. bought a new stake in shares of NET Power during the second quarter worth about $32,000. Deutsche Bank AG raised its holdings in shares of NET Power by 63.0% in the 1st quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock worth $37,000 after acquiring an additional 5,429 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of NET Power in the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

About NET Power

(Get Free Report)

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.

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