Wall Street Zen Upgrades NET Power (NYSE:NPWR) to “Sell”

NET Power (NYSE:NPWR) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

NPWR has been the subject of several other reports. Weiss Ratings lowered NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 22nd. Zacks Research upgraded NET Power to a “hold” rating in a research note 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 target price on the stock. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $3.38.

NET Power Trading Down 0.7%

NPWR stock opened at $0.76 on Friday. NET Power has a 12-month low of $0.68 and a 12-month high of $3.02. The company has a 50 day moving average of $1.28 and a two-hundred day moving average of $1.66.

NET Power (NYSE:NPWR) last posted its quarterly earnings results on Thursday, November 12th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Equities research analysts expect that NET Power will post -1.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder 8 Rivers Capital, Llc sold 150,000 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $1.84, for a total transaction of $276,000.00. Following the transaction, the insider owned 750,000 shares in the company, valued at $1,380,000. This represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 492,900 shares of company stock valued at $933,939 over the last ninety days. Insiders own 2.06% of the company’s stock.

Institutional Investors Weigh In On NET Power

Several institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC increased its position in NET Power by 190.0% during the second quarter. Tidal Investments LLC now owns 1,546,562 shares of the company’s stock worth $2,583,000 after buying an additional 1,013,309 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of NET Power by 644.0% in the first quarter. Renaissance Technologies LLC now owns 703,800 shares of the company’s stock worth $1,098,000 after buying an additional 609,200 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of NET Power in the third quarter worth about $63,000. MRA Advisory Group bought a new stake in shares of NET Power during the 3rd quarter worth about $320,000. Finally, Janney Montgomery Scott LLC boosted its stake in shares of NET Power by 10.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 133,000 shares of the company’s stock worth $207,000 after acquiring an additional 12,351 shares in the last quarter. Institutional investors and hedge funds own 53.62% of the company’s stock.

About NET Power

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.