Wellington Management Group LLP Has $7.33 Million Holdings in NET Power Inc. (NYSE:NPWR)

Wellington Management Group LLP lessened its holdings in NET Power Inc. (NYSE:NPWR) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 692,189 shares of the company’s stock after selling 58,418 shares during the period. Wellington Management Group LLP owned 0.32% of NET Power worth $7,330,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Covestor Ltd acquired a new position in NET Power during the 4th quarter worth $43,000. Janney Montgomery Scott LLC acquired a new position in NET Power during the 4th quarter worth $108,000. National Bank of Canada FI lifted its position in NET Power by 2,727.0% during the 4th quarter. National Bank of Canada FI now owns 11,930 shares of the company’s stock worth $126,000 after acquiring an additional 11,508 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in NET Power during the 4th quarter worth $137,000. Finally, Mariner LLC acquired a new position in NET Power during the 4th quarter worth $139,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

NET Power Stock Performance

NYSE:NPWR opened at $2.76 on Wednesday. The firm’s 50-day moving average is $2.00 and its 200-day moving average is $6.33. NET Power Inc. has a 52-week low of $1.48 and a 52-week high of $14.28. The company has a market cap of $604.62 million, a price-to-earnings ratio of -1.34 and a beta of 0.51.

NET Power (NYSE:NPWR) last posted its quarterly earnings data on Monday, May 12th. The company reported ($1.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($1.44). Equities analysts predict that NET Power Inc. will post -0.4 EPS for the current year.

Analysts Set New Price Targets

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

NET Power 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.