NET Power (NYSE:NPWR) Sees Strong Trading Volume – Should You Buy?

NET Power Inc. (NYSE:NPWR) saw unusually-strong trading volume on Wednesday . Approximately 461,891 shares traded hands during mid-day trading, an increase of 20% from the previous session’s volume of 385,458 shares.The stock last traded at $12.65 and had previously closed at $11.33.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NPWR shares. US Capital Advisors upgraded NET Power to a “strong-buy” rating in a research report on Monday, October 28th. Barclays lowered their price objective on NET Power from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 14th. Finally, Citigroup reduced their target price on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, September 12th.

NET Power Price Performance

The company has a 50-day moving average price of $7.92 and a 200 day moving average price of $9.09.

NET Power (NYSE:NPWR) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.06) earnings per share for the quarter. The business had revenue of $0.24 million during the quarter. As a group, sell-side analysts predict that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other NET Power news, major shareholder Npeh, Llc sold 120,500 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $6.92, for a total transaction of $833,860.00. Following the completion of the transaction, the insider now owns 716,987 shares in the company, valued at $4,961,550.04. This trade represents a 14.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder 8 Rivers Capital, Llc sold 517,618 shares of NET Power stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $7.12, for a total value of $3,685,440.16. Following the completion of the sale, the insider now directly owns 199,369 shares in the company, valued at approximately $1,419,507.28. The trade was a 72.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,204,829 shares of company stock worth $8,679,686. 2.71% of the stock is owned by insiders.

Hedge Funds Weigh In On NET Power

A number of institutional investors and hedge funds have recently made changes to their positions in NPWR. Pekin Hardy Strauss Inc. raised its position in shares of NET Power by 5.4% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 29,365 shares of the company’s stock valued at $289,000 after buying an additional 1,500 shares in the last quarter. ELCO Management Co. LLC raised its position in NET Power by 13.4% during the second quarter. ELCO Management Co. LLC now owns 20,924 shares of the company’s stock valued at $206,000 after purchasing an additional 2,474 shares during the period. MetLife Investment Management LLC lifted its stake in shares of NET Power by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock valued at $91,000 after purchasing an additional 7,281 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of NET Power in the 3rd quarter valued at approximately $82,000. Finally, K2 Principal Fund L.P. purchased a new position in shares of NET Power in the 1st quarter worth approximately $148,000. 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.