NET Power (NYSE:NPWR) Upgraded to “Equal Weight” at Barclays

NET Power (NYSE:NPWR) was upgraded by analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research report issued on Friday, MarketBeat.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NET Power in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.00.

NET Power Stock Performance

Shares of NYSE NPWR traded down $0.14 during trading hours on Friday, hitting $2.82. 2,369,927 shares of the stock were exchanged, compared to its average volume of 1,462,479. NET Power has a 1-year low of $1.48 and a 1-year high of $14.12. The company has a market cap of $617.10 million, a PE ratio of -1.20 and a beta of 0.78. The company’s fifty day simple moving average is $3.26 and its two-hundred day simple moving average is $2.71.

NET Power (NYSE:NPWR) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.24). As a group, sell-side analysts expect that NET Power will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 786,832 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $4.12, for a total value of $3,241,747.84. Following the sale, the insider directly owned 1,973,000 shares in the company, valued at $8,128,760. This represents a 28.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 2,179,463 shares of company stock valued at $8,639,384. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On NET Power

Several institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new stake in shares of NET Power in the 2nd quarter worth approximately $25,000. Invesco Ltd. bought a new stake in shares of NET Power in the second quarter worth about $25,000. Sei Investments Co. purchased a new position in shares of NET Power during the second quarter valued at approximately $32,000. Deutsche Bank AG raised its holdings in NET Power by 63.0% in the 1st quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock worth $37,000 after purchasing an additional 5,429 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in NET Power in the third quarter worth about $39,000. 53.62% of the stock is currently owned by institutional investors.

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.