NET Power (NYSE:NPWR) Trading Down 2.4% – Here’s What Happened

NET Power Inc. (NYSE:NPWR)’s stock price dropped 2.4% during mid-day trading on Tuesday . The stock traded as low as $10.72 and last traded at $10.90. Approximately 95,039 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 434,317 shares. The stock had previously closed at $11.17.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. US Capital Advisors upgraded NET Power to a “strong-buy” rating in a research note on Monday, October 28th. Citigroup cut their target price on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th.

NET Power Stock Down 5.2 %

The stock has a fifty day moving average of $10.72 and a 200 day moving average of $9.23.

NET Power (NYSE:NPWR) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.17. During the same period in the prior year, the company posted ($0.44) earnings per share. On average, analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling at NET Power

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 8,871 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $7.01, for a total transaction of $62,185.71. Following the sale, the insider now directly owns 960,078 shares of the company’s stock, valued at $6,730,146.78. This trade represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash S. Patel sold 150,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $12.65, for a total value of $1,897,500.00. The disclosure for this sale can be found here. Insiders have sold 1,670,960 shares of company stock valued at $16,867,343 over the last 90 days. 2.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NET Power

A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC lifted its stake in NET Power by 276.7% in the 3rd quarter. Barclays PLC now owns 27,883 shares of the company’s stock worth $196,000 after purchasing an additional 20,481 shares in the last quarter. Geode Capital Management LLC boosted its stake in NET Power by 21.7% during the third quarter. Geode Capital Management LLC now owns 646,584 shares of the company’s stock valued at $4,535,000 after buying an additional 115,189 shares during the last quarter. State Street Corp grew its holdings in NET Power by 11.8% during the 3rd quarter. State Street Corp now owns 369,281 shares of the company’s stock valued at $2,589,000 after buying an additional 38,910 shares in the last quarter. HITE Hedge Asset Management LLC increased its stake in NET Power by 2.6% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 387,624 shares of the company’s stock worth $2,717,000 after acquiring an additional 9,987 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of NET Power by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock worth $91,000 after acquiring an additional 7,281 shares in the last quarter. 53.62% of the stock is owned by hedge funds and other institutional investors.

NET Power Company Profile

NET Power Inc operates as a clean energy technology company. The company invents, develops, and licenses clean power generation technology. NET Power Inc was founded in 2010 and is headquartered in Durham, North Carolina.