NET Power (NYSE:NPWR) Shares Down 5% – Should You Sell?

NET Power Inc. (NYSE:NPWR)’s stock price fell 5% during mid-day trading on Tuesday . The company traded as low as $2.36 and last traded at $2.36. 61,726 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 840,415 shares. The stock had previously closed at $2.48.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup raised shares of NET Power from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $14.00 to $6.00 in a research report on Tuesday, March 11th. Barclays downgraded NET Power from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $3.00 to $2.00 in a report on Wednesday, April 23rd.

NET Power Stock Performance

The business’s 50 day simple moving average is $2.03 and its 200-day simple moving average is $5.64. The stock has a market capitalization of $502.76 million, a price-to-earnings ratio of -1.11 and a beta of 0.64.

NET Power (NYSE:NPWR) last released its quarterly earnings results 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). As a group, sell-side analysts expect that NET Power Inc. will post -0.4 EPS for the current year.

Hedge Funds Weigh In On NET Power

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of NET Power by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 2,865,402 shares of the company’s stock worth $30,345,000 after acquiring an additional 332,554 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in NET Power by 481.0% in the first 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 during the period. CenterBook Partners LP boosted its stake in NET Power by 1,655.5% during the 1st quarter. CenterBook Partners LP now owns 1,744,770 shares of the company’s stock valued at $4,589,000 after purchasing an additional 1,645,380 shares in the last quarter. HITE Hedge Asset Management LLC increased its position in shares of NET Power by 80.6% during the 1st quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company’s stock valued at $1,955,000 after purchasing an additional 331,726 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of NET Power by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 658,563 shares of the company’s stock worth $6,976,000 after buying an additional 11,979 shares in the last quarter. Institutional investors and hedge funds 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.