NET Power (NYSE:NPWR) Trading Down 11.5% – What’s Next?

NET Power Inc. (NYSE:NPWR)’s share price traded down 11.5% during trading on Thursday . The company traded as low as $2.83 and last traded at $2.9020. 433,631 shares traded hands during trading, a decline of 70% from the average session volume of 1,449,553 shares. The stock had previously closed at $3.28.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NPWR. Barclays raised shares of NET Power from an “underweight” rating to an “equal weight” rating in a report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, NET Power currently has an average rating of “Hold” and an average price target of $4.00.

NET Power Price Performance

The stock has a market capitalization of $617.11 million, a PE ratio of -0.37 and a beta of 0.78. The company has a 50-day moving average of $3.27 and a two-hundred day moving average of $2.72.

NET Power (NYSE:NPWR) last released its earnings results on Thursday, November 13th. The company reported $5.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $6.00. On average, research analysts forecast that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Cynda Beauchamp sold 18,116 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $4.05, for a total value of $73,369.80. Following the transaction, the insider directly owned 1,847,130 shares of the company’s stock, valued at approximately $7,480,876.50. This trade represents a 0.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 8 Rivers Capital, Llc sold 8,477 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $4.00, for a total value of $33,908.00. Following the sale, the insider directly owned 1,838,653 shares of the company’s stock, valued at approximately $7,354,612. This trade represents a 0.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 2,179,463 shares of company stock valued at $8,639,384. Insiders own 2.10% of the company’s stock.

Institutional Trading of NET Power

A number of institutional investors and hedge funds have recently bought and sold shares of NPWR. Adage Capital Partners GP L.L.C. increased its position in shares of NET Power by 16.4% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock worth $7,015,000 after acquiring an additional 400,000 shares in the last quarter. CenterBook Partners LP increased its holdings in NET Power by 1,655.5% in 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. Geode Capital Management LLC raised its position in NET Power by 21.4% in the second quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock valued at $2,078,000 after purchasing an additional 148,307 shares during the period. Two Sigma Investments LP lifted its stake in shares of NET Power by 36.7% during the third quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock worth $2,474,000 after purchasing an additional 220,831 shares in the last quarter. Finally, HITE Hedge Asset Management LLC boosted its position in shares of 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 buying an additional 331,726 shares during the period. 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.