NET Power (NYSE:NPWR) Trading Up 7.4% – Here’s Why

NET Power Inc. (NYSE:NPWR)’s stock price traded up 7.4% during trading on Friday . The stock traded as high as $2.67 and last traded at $2.6950. 376,226 shares were traded during trading, a decline of 49% from the average session volume of 743,938 shares. The stock had previously closed at $2.51.

Analyst Upgrades and Downgrades

NPWR has been the subject of a number of research analyst reports. 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 report on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NET Power in a research report on Wednesday, October 8th. Finally, Barclays upgraded NET Power from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $2.00 to $3.00 in a research note on Friday, November 14th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NET Power currently has a consensus rating of “Hold” and a consensus target price of $3.50.

NET Power Price Performance

The firm has a 50-day simple moving average of $2.65 and a two-hundred day simple moving average of $2.87. The company has a market cap of $589.78 million, a PE ratio of -0.35 and a beta of 0.81.

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

Insiders Place Their Bets

In related news, major shareholder 8 Rivers Capital, Llc sold 170,000 shares of the stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $2.21, for a total transaction of $375,700.00. Following the sale, the insider owned 2,050,000 shares in the company, valued at $4,530,500. This represents a 7.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 3,731,516 shares of company stock worth $12,182,651 in the last three months. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On NET Power

Hedge funds have recently made changes to their positions in the business. CenterBook Partners LP lifted its stake in NET Power by 78.8% during the third quarter. CenterBook Partners LP now owns 1,248,348 shares of the company’s stock valued at $3,758,000 after purchasing an additional 550,270 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of NET Power by 16.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock worth $7,015,000 after purchasing an additional 400,000 shares during the period. Caption Management LLC lifted its holdings in shares of NET Power by 619.8% during the second quarter. Caption Management LLC now owns 401,899 shares of the company’s stock valued at $993,000 after purchasing an additional 346,068 shares during the last quarter. UBS Group AG increased its stake in NET Power by 183.1% in the 3rd quarter. UBS Group AG now owns 430,452 shares of the company’s stock worth $1,296,000 after purchasing an additional 278,400 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in NET Power by 36.7% in the 3rd quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock worth $2,474,000 after purchasing an additional 220,831 shares during the last quarter. Institutional investors and hedge funds 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.