NET Power (NYSE:NPWR) Shares Down 11.5% – Time to Sell?

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of NET Power in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $4.00.

NET Power Stock Performance

The firm has a market cap of $641.22 million, a P/E ratio of -1.24 and a beta of 0.78. The firm has a fifty day moving average of $3.25 and a 200-day moving average of $2.71.

NET Power (NYSE:NPWR) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.24). Equities research analysts expect that NET Power Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling at NET Power

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

Institutional Investors Weigh In On NET Power

A number of large investors have recently made changes to their positions in the company. XTX Topco Ltd lifted its position in shares of NET Power by 129.3% in the 1st quarter. XTX Topco Ltd now owns 138,198 shares of the company’s stock valued at $363,000 after acquiring an additional 77,929 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of NET Power by 63.0% in the first quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock valued at $37,000 after purchasing an additional 5,429 shares in the last quarter. CenterBook Partners LP boosted its position in shares of NET Power by 1,655.5% in the first quarter. CenterBook Partners LP now owns 1,744,770 shares of the company’s stock worth $4,589,000 after buying an additional 1,645,380 shares during the period. Nuveen LLC purchased a new position in shares of NET Power during the first quarter valued at $136,000. Finally, Quantbot Technologies LP acquired a new position in NET Power during the first quarter valued at $221,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

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.