Short Interest in NET Power Inc. (NYSE:NPWR) Decreases By 13.0%

NET Power Inc. (NYSE:NPWR) was the target of a large decline in short interest in February. As of February 27th, there was short interest totaling 2,402,195 shares, a decline of 13.0% from the February 12th total of 2,760,739 shares. Based on an average daily trading volume, of 764,912 shares, the short-interest ratio is presently 3.1 days. Currently, 1.1% of the shares of the company are sold short. Currently, 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 764,912 shares, the short-interest ratio is presently 3.1 days.

Insider Transactions at NET Power

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 100,000 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $2.04, for a total transaction of $204,000.00. Following the sale, the insider owned 400,000 shares in the company, valued at $816,000. This represents a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 2,015,000 shares of company stock worth $4,575,605. Insiders own 2.10% of the company’s stock.

Institutional Trading of NET Power

Several institutional investors and hedge funds have recently made changes to their positions in NPWR. Stonegate Investment Group LLC increased its stake in NET Power by 20.0% in the third quarter. Stonegate Investment Group LLC now owns 30,000 shares of the company’s stock valued at $90,000 after acquiring an additional 5,000 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of NET Power by 48.7% during the 2nd 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in NET Power by 44.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company’s stock worth $46,000 after buying an additional 5,739 shares during the last quarter. Barclays PLC lifted its position in NET Power by 14.6% in the 4th quarter. Barclays PLC now owns 54,750 shares of the company’s stock worth $125,000 after buying an additional 6,970 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its stake in NET Power by 17.8% in the second 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 in the last quarter. Hedge funds and other institutional investors own 53.62% of the company’s stock.

NET Power Stock Down 4.2%

NYSE:NPWR traded down $0.08 during trading hours on Wednesday, hitting $1.70. 261,172 shares of the company’s stock traded hands, compared to its average volume of 834,819. NET Power has a 52 week low of $1.48 and a 52 week high of $5.20. The business’s fifty day simple moving average is $2.21 and its two-hundred day simple moving average is $2.68. The firm has a market cap of $376.53 million, a P/E ratio of -0.23 and a beta of 0.84.

NET Power (NYSE:NPWR) last released its quarterly earnings results on Monday, March 9th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.11). On average, analysts expect that NET Power will post -0.4 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on NPWR shares. Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a research note on Thursday, January 22nd. Citigroup cut their price objective on shares of NET Power from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock 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.