NET Power (NYSE:NPWR) Releases Earnings Results

NET Power (NYSE:NPWR) posted its earnings results on Thursday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03), FiscalAI reports.

NET Power Stock Down 9.3%

Shares of NYSE NPWR traded down $0.08 during trading on Thursday, hitting $0.76. The company had a trading volume of 662,014 shares, compared to its average volume of 497,409. The firm has a market capitalization of $169.77 million, a price-to-earnings ratio of 0.18 and a beta of 1.25. The stock has a fifty day simple moving average of $1.30 and a two-hundred day simple moving average of $1.67. NET Power has a fifty-two week low of $0.75 and a fifty-two week high of $3.25.

Wall Street Analysts Forecast Growth

NPWR has been the subject of several recent analyst reports. Wall Street Zen lowered NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Weiss Ratings downgraded NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 22nd. Zacks Research raised NET Power to a “hold” rating in a report on Tuesday, September 15th. Finally, Northland Securities started coverage on NET Power in a research report on Monday, September 14th. They issued an “outperform” rating and a $2.75 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, NET Power presently has an average rating of “Hold” and a consensus target price of $3.25.

Insider Buying and Selling at NET Power

In related news, major shareholder 8 Rivers Capital, Llc sold 507,100 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $1.95, for a total value of $988,845.00. Following the transaction, the insider directly owned 1,242,900 shares of the company’s stock, valued at approximately $2,423,655. This trade represents a 28.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 1,000,000 shares of company stock worth $1,922,784. 2.06% of the stock is owned by corporate insiders.

NET Power Company Profile

NET Power, Inc. develops power-generation technology designed to produce electricity from natural gas while capturing carbon dioxide. Its system, known as the NET Power Cycle, burns natural gas with oxygen in a high-pressure carbon dioxide working fluid, generating electricity and a concentrated stream of carbon dioxide for capture and potential transport, storage or use. The company’s activities include developing and commercializing its technology and advancing projects for its deployment. Rather than operating as a conventional utility, NET Power focuses on enabling power plants that use its system.