NET Power (NYSE:NPWR) Issues Quarterly Earnings Results

NET Power (NYSE:NPWR) released its quarterly earnings data on Monday. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04), FiscalAI reports.

NET Power Trading Down 0.2%

NPWR stock traded down $0.00 during trading on Monday, reaching $1.95. The stock had a trading volume of 864,299 shares, compared to its average volume of 831,733. The firm has a fifty day moving average price of $2.29 and a 200 day moving average price of $2.71. The company has a market capitalization of $432.51 million, a P/E ratio of -0.25 and a beta of 0.84. NET Power has a 1-year low of $1.48 and a 1-year high of $5.33.

Insider Buying and Selling at NET Power

In related news, major shareholder 8 Rivers Capital, Llc sold 100,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $2.04, for a total value of $204,000.00. Following the transaction, the insider owned 400,000 shares in the company, valued at approximately $816,000. The trade was a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 2,055,000 shares of company stock worth $4,688,405 in the last three months. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On NET Power

A number of hedge funds have recently bought and sold shares of NPWR. Adage Capital Partners GP L.L.C. increased its holdings in 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 purchasing an additional 400,000 shares during the last quarter. Caption Management LLC boosted its stake in shares of NET Power by 619.8% during the 2nd 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 boosted its stake in shares of NET Power by 183.1% during the 3rd 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 last quarter. Empowered Funds LLC grew its position in shares of NET Power by 99.3% during the fourth quarter. Empowered Funds LLC now owns 444,734 shares of the company’s stock worth $1,014,000 after buying an additional 221,530 shares in the last quarter. Finally, Two Sigma Investments LP grew its position 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 buying an additional 220,831 shares in the last quarter. Institutional investors and hedge funds own 53.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NPWR shares. Barclays raised shares of NET Power from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $2.00 to $3.00 in a research report on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NET Power in a report on Thursday, January 22nd. Finally, Citigroup reduced their price objective 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. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $3.50.

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.