NET Power (NYSE:NPWR) Announces Earnings Results, Misses Expectations By $0.05 EPS

NET Power (NYSE:NPWR) issued its earnings results on Monday. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05), Zacks reports.

NET Power Stock Up 5.2%

Shares of NYSE:NPWR opened at $2.10 on Tuesday. NET Power has a 12-month low of $1.46 and a 12-month high of $5.20. The firm has a market cap of $471.96 million, a P/E ratio of -0.28 and a beta of 1.03. The business has a fifty day simple moving average of $1.76 and a 200 day simple moving average of $2.33.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.50.

Insiders Place Their Bets

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $2.04, for a total value of $204,000.00. Following the completion of the transaction, the insider owned 400,000 shares of the company’s stock, valued at $816,000. The trade was a 20.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 760,000 shares of company stock valued at $1,572,348 over the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NPWR. Geode Capital Management LLC lifted its stake in NET Power by 21.4% during the second quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock worth $2,078,000 after purchasing an additional 148,307 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of NET Power by 48.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock valued at $40,000 after buying an additional 5,255 shares in the last quarter. Invesco Ltd. purchased a new position in shares of NET Power during the 2nd quarter valued at about $25,000. Federated Hermes Inc. bought a new stake in NET Power in the 2nd quarter worth approximately $151,000. Finally, Sei Investments Co. purchased a new stake in NET Power in the second quarter worth approximately $32,000. 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.