NET Power (NYSE:NPWR) Stock Price Down 5.5% – Here’s Why

NET Power Inc. (NYSE:NPWR) fell 5.5% on Wednesday . The company traded as low as $2.70 and last traded at $2.6650. 45,434 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 670,760 shares. The stock had previously closed at $2.82.

Wall Street Analysts Forecast Growth

NPWR has been the topic of a number of analyst reports. Citigroup decreased their price target on NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Barclays upgraded shares of NET Power from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $2.00 to $3.00 in a report on Friday, November 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NET Power in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.50.

NET Power Stock Performance

The stock has a market capitalization of $603.11 million, a P/E ratio of -0.35 and a beta of 0.81. The stock has a 50-day moving average price of $2.69 and a two-hundred day moving average price of $2.88.

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

Insider Buying and Selling at NET Power

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 170,000 shares of NET Power stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $2.21, for a total transaction of $375,700.00. Following the sale, the insider directly owned 2,050,000 shares of the company’s stock, valued at approximately $4,530,500. The trade was a 7.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 3,745,475 shares of company stock worth $12,248,398. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Stonegate Investment Group LLC lifted its stake in shares of NET Power by 20.0% in the 3rd quarter. Stonegate Investment Group LLC now owns 30,000 shares of the company’s stock valued at $90,000 after purchasing an additional 5,000 shares during the period. JPMorgan Chase & Co. lifted its position in NET Power by 48.7% during the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock valued at $40,000 after buying an additional 5,255 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of NET Power by 44.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company’s stock valued at $46,000 after buying an additional 5,739 shares in the last quarter. Engineers Gate Manager LP grew its position in shares of NET Power by 17.8% in the 2nd quarter. Engineers Gate Manager LP now owns 46,433 shares of the company’s stock worth $115,000 after buying an additional 7,002 shares during the period. Finally, Sig Brokerage LP grew its position in shares of NET Power by 50.3% in the 3rd quarter. Sig Brokerage LP now owns 24,298 shares of the company’s stock worth $73,000 after buying an additional 8,130 shares during the period. Institutional investors own 53.62% of the company’s stock.

NET Power Company Profile

NET Power, Inc is an energy technology company focused on developing and commercializing power generation plants that burn natural gas and other fuels with near-zero carbon emissions. The company’s core innovation is the proprietary Allam-Fetvedt Cycle, a supercritical carbon dioxide power cycle that captures all carbon dioxide produced during combustion without the need for separate carbon capture systems. By integrating gas combustion, heat exchange and carbon dioxide separation into a single closed-loop process, NET Power aims to deliver baseload power with efficiencies and emissions profiles competitive with conventional and renewable generation sources.

Since demonstrating its first full-scale Allam-Cycle facility in La Porte, Texas, NET Power has moved from pilot operation toward commercial deployment.