NET Power (NYSE:NPWR) Trading 5.4% Higher – Here’s Why

NET Power Inc. (NYSE:NPWR) was up 5.4% during mid-day trading on Tuesday . The company traded as high as $13.18 and last traded at $13.07. Approximately 165,516 shares changed hands during trading, a decline of 58% from the average daily volume of 398,111 shares. The stock had previously closed at $12.40.

Wall Street Analyst Weigh In

NPWR has been the topic of several analyst reports. Citigroup cut their price target on NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Barclays lowered their target price on NET Power from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 14th. Finally, US Capital Advisors raised NET Power to a “strong-buy” rating in a report on Monday, October 28th.

NET Power Stock Performance

The firm’s 50 day moving average price is $8.34 and its 200-day moving average price is $9.13.

NET Power (NYSE:NPWR) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.17. During the same period in the previous year, the company posted ($0.44) EPS. As a group, research analysts predict that NET Power Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Npeh, Llc sold 120,500 shares of NET Power stock in a transaction on Friday, October 11th. The stock was sold at an average price of $6.92, for a total transaction of $833,860.00. Following the transaction, the insider now owns 716,987 shares in the company, valued at $4,961,550.04. The trade was a 14.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder 8 Rivers Capital, Llc sold 80,122 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $7.02, for a total transaction of $562,456.44. Following the completion of the transaction, the insider now owns 342,364 shares in the company, valued at $2,403,395.28. The trade was a 18.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,204,829 shares of company stock valued at $8,679,686. 2.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NET Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NPWR. Encompass Capital Advisors LLC purchased a new position in shares of NET Power during the 2nd quarter worth $20,537,000. Vanguard Group Inc. boosted its holdings in 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 period. Marshall Wace LLP increased its stake in NET Power by 226.9% during the second quarter. Marshall Wace LLP now owns 583,688 shares of the company’s stock worth $5,738,000 after purchasing an additional 405,128 shares during the period. Geode Capital Management LLC lifted its position in shares of NET Power by 21.7% during the third quarter. Geode Capital Management LLC now owns 646,584 shares of the company’s stock worth $4,535,000 after purchasing an additional 115,189 shares in the last quarter. Finally, Thomist Capital Management LP purchased a new position in shares of NET Power in the second quarter valued at approximately $1,073,000. Hedge funds and other institutional investors own 53.62% of the company’s stock.

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.