NET Power Inc. (NYSE:NPWR – Get Free Report)’s share price traded down 6.4% on Monday . The stock traded as low as $9.19 and last traded at $9.20. 250,650 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 366,479 shares. The stock had previously closed at $9.83.
Analyst Ratings Changes
Separately, Barclays began coverage on shares of NET Power in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $13.00 price objective on the stock.
Read Our Latest Stock Report on NPWR
NET Power Stock Performance
NET Power (NYSE:NPWR – Get Free Report) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.16) earnings per share for the quarter. As a group, sell-side analysts forecast that NET Power Inc. will post -0.21 earnings per share for the current year.
Insider Transactions at NET Power
In other NET Power news, major shareholder Sk Inc. sold 2,500,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $10.04, for a total value of $25,100,000.00. Following the sale, the insider now owns 2,500,000 shares in the company, valued at $25,100,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.71% of the company’s stock.
Hedge Funds Weigh In On NET Power
Hedge funds have recently made changes to their positions in the company. K2 Principal Fund L.P. acquired a new stake in shares of NET Power during the 1st quarter worth approximately $148,000. Vanguard Group Inc. boosted its position in shares of NET Power by 65.1% during the 1st quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock valued at $27,617,000 after acquiring an additional 956,134 shares during the last quarter. Williams Jones Wealth Management LLC. acquired a new position in NET Power in the first quarter valued at approximately $128,000. Commonwealth Equity Services LLC boosted its stake in NET Power by 32.8% during the first quarter. Commonwealth Equity Services LLC now owns 63,821 shares of the company’s stock worth $727,000 after buying an additional 15,778 shares during the period. Finally, Palo Duro Investment Partners LP increased its holdings in NET Power by 4.3% in the 4th quarter. Palo Duro Investment Partners LP now owns 139,417 shares of the company’s stock valued at $1,408,000 after purchasing an additional 5,803 shares during the last quarter. 53.62% of the stock is owned by institutional investors and hedge funds.
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.
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