NET Power (NYSE:NPWR) Shares Down 4.3% – Here’s Why

NET Power Inc. (NYSE:NPWR) shares were down 4.3% during mid-day trading on Wednesday . The stock traded as low as $8.93 and last traded at $9.23. Approximately 186,520 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 521,723 shares. The stock had previously closed at $9.65.

Wall Street Analysts Forecast Growth

Separately, US Capital Advisors upgraded shares of NET Power to a “strong-buy” rating in a research report on Monday, October 28th.

NET Power Trading Down 0.4 %

The business’s fifty day moving average is $10.82 and its 200 day moving average is $9.21.

NET Power (NYSE:NPWR) last announced its earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.17. During the same period last year, the business posted ($0.44) earnings per share. Analysts predict that NET Power Inc. will post -0.4 EPS for the current year.

Insider Activity at NET Power

In other NET Power news, CFO Akash S. Patel sold 150,000 shares of NET Power stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $12.65, for a total transaction of $1,897,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 8 Rivers Capital, Llc sold 431,009 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $12.76, for a total transaction of $5,499,674.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 901,380 shares of company stock valued at $11,433,849. 2.71% of the stock is owned by corporate insiders.

Institutional Trading of NET Power

Several institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new stake in NET Power in the 4th quarter valued at about $108,000. Barclays PLC grew its position in NET Power by 276.7% during the third quarter. Barclays PLC now owns 27,883 shares of the company’s stock worth $196,000 after buying an additional 20,481 shares in the last quarter. Geode Capital Management LLC increased its stake in NET Power by 21.7% during the 3rd quarter. Geode Capital Management LLC now owns 646,584 shares of the company’s stock worth $4,535,000 after acquiring an additional 115,189 shares during the period. State Street Corp lifted its position in shares of 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 acquiring an additional 38,910 shares during the period. Finally, HITE Hedge Asset Management LLC grew its holdings in shares of NET Power by 2.6% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 387,624 shares of the company’s stock worth $2,717,000 after purchasing an additional 9,987 shares in the last quarter. 53.62% of the stock is currently owned by 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.