NET Power (NYSE:NPWR) Posts Earnings Results, Misses Expectations By $5.12 EPS

NET Power (NYSE:NPWR) posted its quarterly earnings results on Thursday. The company reported ($5.28) EPS for the quarter, missing the consensus estimate of ($0.16) by ($5.12), FiscalAI reports.

NET Power Price Performance

Shares of NYSE NPWR traded down $0.34 during midday trading on Thursday, hitting $2.95. The company’s stock had a trading volume of 2,364,939 shares, compared to its average volume of 1,458,555. The firm has a market capitalization of $645.60 million, a price-to-earnings ratio of -1.25 and a beta of 0.78. The business’s fifty day simple moving average is $3.25 and its two-hundred day simple moving average is $2.71. NET Power has a 1 year low of $1.48 and a 1 year high of $14.28.

Insider Buying and Selling

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 8,477 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $4.00, for a total transaction of $33,908.00. Following the sale, the insider 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cynda Beauchamp sold 18,116 shares of NET Power stock in a transaction that occurred 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 in the company, valued at approximately $7,480,876.50. This trade represents a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,179,463 shares of company stock worth $8,639,384 over the last 90 days. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On NET Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. boosted its stake in shares of NET Power by 16.4% during the 2nd 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. Caption Management LLC raised its position in shares of NET Power by 619.8% in the second quarter. Caption Management LLC now owns 401,899 shares of the company’s stock valued at $993,000 after buying an additional 346,068 shares during the last quarter. UBS Group AG lifted its stake in shares of NET Power by 183.1% during the third quarter. UBS Group AG now owns 430,452 shares of the company’s stock valued at $1,296,000 after buying an additional 278,400 shares during the period. JPMorgan Chase & Co. boosted its position in NET Power by 1,226.9% during the third quarter. JPMorgan Chase & Co. now owns 212,929 shares of the company’s stock worth $641,000 after acquiring an additional 196,882 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of 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. Institutional investors and hedge funds own 53.62% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued 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 and two have given a Sell rating to the stock. According to MarketBeat.com, NET Power has a consensus rating of “Reduce” and a consensus price target of $4.00.

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.