CenterBook Partners LP Raises Position in NET Power Inc. $NPWR

CenterBook Partners LP increased its stake in NET Power Inc. (NYSE:NPWR) by 78.8% during the third quarter, HoldingsChannel reports. The firm owned 1,248,348 shares of the company’s stock after acquiring an additional 550,270 shares during the period. CenterBook Partners LP’s holdings in NET Power were worth $3,758,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in NET Power in the second quarter worth $25,000. Invesco Ltd. bought a new position in shares of NET Power during the 2nd quarter worth $25,000. Sei Investments Co. purchased a new stake in NET Power in the 2nd quarter worth about $32,000. JPMorgan Chase & Co. increased its holdings in NET Power by 48.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock worth $40,000 after acquiring an additional 5,255 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in NET Power by 44.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company’s stock valued at $46,000 after acquiring an additional 5,739 shares during the period. 53.62% of the stock is owned by institutional investors.

NET Power Stock Down 2.1%

Shares of NPWR opened at $2.08 on Thursday. NET Power Inc. has a twelve month low of $1.48 and a twelve month high of $8.27. The stock has a market cap of $460.94 million, a PE ratio of -0.27 and a beta of 0.82. The business’s 50-day moving average price is $2.38 and its 200-day moving average price is $2.76.

Insiders Place Their Bets

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 75,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $2.07, for a total value of $155,250.00. Following the sale, the insider directly owned 775,000 shares in the company, valued at $1,604,250. This represents a 8.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 2,207,163 shares of company stock worth $5,431,964. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NPWR has been the subject of a number of research reports. Citigroup cut their target price on shares of 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 report on Thursday, January 22nd. Finally, Barclays upgraded shares of NET Power from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $2.00 to $3.00 in a research note on Friday, November 14th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, NET Power currently has a consensus rating of “Hold” and a consensus target price of $3.50.

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.