NET Power (NYSE:NPWR) Trading Up 10.4% – Time to Buy?

NET Power Inc. (NYSE:NPWR) shares were up 10.4% on Tuesday . The company traded as high as $2.50 and last traded at $2.45. Approximately 816,590 shares were traded during trading, an increase of 10% from the average daily volume of 739,035 shares. The stock had previously closed at $2.22.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NPWR shares. Citigroup upgraded NET Power from a “neutral” rating to a “buy” rating and lowered their target price for the company from $14.00 to $6.00 in a research note on Tuesday, March 11th. Barclays lowered shares of NET Power from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $3.00 to $2.00 in a report on Wednesday, April 23rd.

NET Power Price Performance

The business has a 50 day moving average price of $2.00 and a 200 day moving average price of $6.35. The stock has a market capitalization of $565.19 million, a PE ratio of -1.25 and a beta of 0.51.

NET Power (NYSE:NPWR) last announced its quarterly earnings results on Monday, May 12th. The company reported ($1.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.44). On average, equities analysts expect that NET Power Inc. will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On NET Power

Hedge funds have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. increased its holdings in shares of NET Power by 481.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,440,000 shares of the company’s stock worth $6,417,000 after purchasing an additional 2,020,000 shares in the last quarter. PDT Partners LLC purchased a new stake in shares of NET Power during the first quarter valued at $294,000. Caption Management LLC bought a new stake in NET Power in the 1st quarter worth about $147,000. EntryPoint Capital LLC bought a new position in NET Power during the first quarter valued at approximately $126,000. Finally, HITE Hedge Asset Management LLC boosted its holdings in NET Power by 80.6% in the first quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company’s stock worth $1,955,000 after purchasing an additional 331,726 shares during the last quarter. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

About NET Power

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.