NET Power (NYSE:NPWR) Trading Down 5.5% – Here’s Why

Shares of NET Power Inc. (NYSE:NPWR) were down 5.5% during mid-day trading on Wednesday . The company traded as low as $2.70 and last traded at $2.6650. Approximately 45,434 shares were traded during trading, a decline of 93% from the average daily volume of 670,760 shares. The stock had previously closed at $2.82.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NPWR. Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a research report on Wednesday, October 8th. Barclays upgraded NET Power from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $2.00 to $3.00 in a research report on Friday, November 14th. Finally, Citigroup decreased their price target on NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, NET Power has a consensus rating of “Hold” and an average target price of $3.50.

NET Power Price Performance

The firm has a market capitalization of $582.01 million, a price-to-earnings ratio of -0.34 and a beta of 0.81. The stock has a fifty day moving average of $2.64 and a two-hundred day moving average of $2.87.

NET Power (NYSE:NPWR) last announced its earnings results on Thursday, November 13th. The company reported $5.84 EPS for the quarter, topping the consensus estimate of ($0.16) by $6.00. On average, research analysts forecast that NET Power Inc. will post -0.4 EPS for the current year.

Insider Transactions at NET Power

In other news, major shareholder 8 Rivers Capital, Llc sold 786,832 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $4.12, for a total value of $3,241,747.84. Following the transaction, the insider owned 1,973,000 shares in the company, valued at approximately $8,128,760. The trade was a 28.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 3,731,516 shares of company stock worth $12,182,651. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NET Power

Institutional investors and hedge funds have recently made changes to their positions in the stock. Argentarii LLC increased its position in NET Power by 413.0% in the 4th quarter. Argentarii LLC now owns 263,507 shares of the company’s stock valued at $601,000 after buying an additional 212,142 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new stake in NET Power in the fourth quarter valued at approximately $41,000. JPMorgan Chase & Co. increased its holdings in shares of NET Power by 1,226.9% during the third quarter. JPMorgan Chase & Co. now owns 212,929 shares of the company’s stock valued at $641,000 after acquiring an additional 196,882 shares in the last quarter. Worth Venture Partners LLC bought a new stake in shares of NET Power during the third quarter valued at approximately $209,000. Finally, Sig Brokerage LP raised its holdings in NET Power by 50.3% during the third quarter. Sig Brokerage LP now owns 24,298 shares of the company’s stock worth $73,000 after buying an additional 8,130 shares during the last quarter. Institutional investors own 53.62% of the company’s stock.

NET Power Company Profile

NET Power, Inc is an energy technology company focused on developing and commercializing power generation plants that burn natural gas and other fuels with near-zero carbon emissions. The company’s core innovation is the proprietary Allam-Fetvedt Cycle, a supercritical carbon dioxide power cycle that captures all carbon dioxide produced during combustion without the need for separate carbon capture systems. By integrating gas combustion, heat exchange and carbon dioxide separation into a single closed-loop process, NET Power aims to deliver baseload power with efficiencies and emissions profiles competitive with conventional and renewable generation sources.

Since demonstrating its first full-scale Allam-Cycle facility in La Porte, Texas, NET Power has moved from pilot operation toward commercial deployment.