NET Power Inc. (NYSE:NPWR – Get Free Report) has been assigned an average recommendation of “Hold” from the five ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $3.25.
A number of equities analysts have weighed in on NPWR shares. Northland Securities assumed coverage on NET Power in a research note on Monday, September 14th. They set an “outperform” rating and a $2.75 price objective on the stock. Weiss Ratings downgraded NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 22nd. Wall Street Zen downgraded NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Finally, Zacks Research upgraded NET Power to a “hold” rating in a report on Tuesday, September 15th.
Insider Activity
In related news, major shareholder 8 Rivers Capital, Llc sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $1.84, for a total transaction of $276,000.00. Following the completion of the sale, the insider directly owned 750,000 shares in the company, valued at approximately $1,380,000. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 2,005,858 shares of company stock valued at $3,460,668 over the last ninety days. Corporate insiders own 2.06% of the company’s stock.
Hedge Funds Weigh In On NET Power
Several institutional investors and hedge funds have recently bought and sold shares of NPWR. Bank of America Corp DE grew its stake in shares of NET Power by 40.1% in the 1st quarter. Bank of America Corp DE now owns 35,083 shares of the company’s stock valued at $55,000 after buying an additional 10,034 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of NET Power by 10.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 133,000 shares of the company’s stock worth $207,000 after buying an additional 12,351 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of NET Power during the 1st quarter valued at approximately $30,000. Bank of New York Mellon Corp purchased a new stake in shares of NET Power during the 2nd quarter valued at approximately $140,000. Finally, SIR Capital Management L.P. purchased a new stake in shares of NET Power during the 2nd quarter valued at approximately $183,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.
NET Power Price Performance
Shares of NET Power stock opened at $1.01 on Monday. The stock’s 50 day simple moving average is $1.63 and its 200-day simple moving average is $1.69. The stock has a market cap of $228.23 million, a P/E ratio of -0.16 and a beta of 1.16. NET Power has a 1-year low of $0.99 and a 1-year high of $4.32.
NET Power (NYSE:NPWR – Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.84). As a group, research analysts expect that NET Power will post -1.14 EPS for the current fiscal year.
About NET Power
NET Power, Inc develops technology for generating reliable electricity from natural gas while capturing carbon dioxide emissions. Its proprietary Allam-Fetvedt Cycle uses carbon dioxide as the working fluid in a high-pressure power-generation process, enabling the production of electricity and a concentrated carbon dioxide stream that can be transported for utilization or permanent storage.
The company’s technology is designed to support low-emissions, dispatchable power generation and can be integrated with carbon capture, utilization and storage systems.
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