NET Power (NYSE:NPWR) Sees Strong Trading Volume – Here’s What Happened

Shares of NET Power Inc. (NYSE:NPWR) saw an uptick in trading volume on Monday . 647,268 shares were traded during trading, a decline of 19% from the previous session’s volume of 799,667 shares.The stock last traded at $2.64 and had previously closed at $2.92.

Wall Street Analysts Forecast Growth

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

NET Power Trading Down 10.1%

The stock has a fifty day moving average of $1.99 and a two-hundred day moving average of $6.07. The company has a market capitalization of $575.05 million, a PE ratio of -1.28 and a beta of 0.64.

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

Hedge Funds Weigh In On NET Power

A number of institutional investors have recently bought and sold shares of NPWR. Deutsche Bank AG boosted its holdings in shares of NET Power by 63.0% during the 1st quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock valued at $37,000 after buying an additional 5,429 shares in the last quarter. Covestor Ltd bought a new position in shares of NET Power in the fourth quarter worth approximately $43,000. Legacy Advisors LLC purchased a new position in NET Power in the 1st quarter worth approximately $43,000. Janney Montgomery Scott LLC bought a new stake in shares of NET Power in the 4th quarter worth $108,000. Finally, National Bank of Canada FI lifted its holdings in shares of NET Power by 2,727.0% during the fourth quarter. National Bank of Canada FI now owns 11,930 shares of the company’s stock valued at $126,000 after purchasing an additional 11,508 shares in the last quarter. 53.62% of the stock is 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.