NET Power (NYSE:NPWR) Shares Gap Up – Here’s What Happened

NET Power Inc. (NYSE:NPWR) gapped up before the market opened on Monday . The stock had previously closed at $2.50, but opened at $2.61. NET Power shares last traded at $2.58, with a volume of 174,299 shares traded.

Analyst Ratings Changes

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

NET Power Price Performance

The business’s fifty day moving average price is $2.02 and its 200 day moving average price is $5.71. The company has a market cap of $555.33 million, a price-to-earnings ratio of -1.23 and a beta of 0.64.

NET Power (NYSE:NPWR) last released its 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). As a group, equities research analysts anticipate that NET Power Inc. will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB bought a new position in shares of NET Power in the fourth quarter valued at approximately $175,000. Bank of New York Mellon Corp increased its holdings in NET Power by 32.1% in the 4th quarter. Bank of New York Mellon Corp now owns 66,411 shares of the company’s stock worth $703,000 after acquiring an additional 16,135 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of NET Power in the fourth quarter valued at approximately $181,000. Charles Schwab Investment Management Inc. lifted its position in shares of NET Power by 12.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 275,812 shares of the company’s stock worth $2,921,000 after acquiring an additional 30,960 shares in the last quarter. Finally, Kapstone Financial Advisors LLC bought a new position in NET Power in the 4th quarter worth about $184,000. Institutional investors own 53.62% of the company’s stock.

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.