NET Power (NYSE:NPWR) Sets New 1-Year High – Here’s Why

NET Power Inc. (NYSE:NPWR)’s share price hit a new 52-week high on Thursday . The company traded as high as $14.23 and last traded at $13.99, with a volume of 230597 shares changing hands. The stock had previously closed at $12.84.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Barclays dropped their price target on NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 14th. US Capital Advisors upgraded shares of NET Power to a “strong-buy” rating in a report on Monday, October 28th. Finally, Citigroup cut their price target on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th.

NET Power Price Performance

The firm has a 50-day simple moving average of $8.02 and a 200 day simple moving average of $9.11.

Insider Activity

In related news, major shareholder Npeh, Llc sold 66,825 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $7.88, for a total value of $526,581.00. Following the transaction, the insider now owns 189,329 shares in the company, valued at approximately $1,491,912.52. The trade was a 26.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 8 Rivers Capital, Llc sold 517,618 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $7.12, for a total value of $3,685,440.16. Following the completion of the transaction, the insider now directly owns 199,369 shares of the company’s stock, valued at $1,419,507.28. This represents a 72.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,204,829 shares of company stock worth $8,679,686. 2.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NET Power

Institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new stake in shares of NET Power during the third quarter worth approximately $82,000. MetLife Investment Management LLC boosted its stake in NET Power by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock valued at $91,000 after acquiring an additional 7,281 shares during the last quarter. XTX Topco Ltd acquired a new position in NET Power during the 2nd quarter worth $133,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of NET Power in the 2nd quarter worth about $136,000. Finally, K2 Principal Fund L.P. bought a new stake in shares of NET Power in the 1st quarter worth about $148,000. 53.62% of the stock is owned by institutional investors and hedge funds.

NET Power Company Profile

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.