NET Power Inc. (NYSE:NPWR – Get Free Report)’s share price fell 4.1% during trading on Wednesday. The stock traded as low as $0.8211 and last traded at $0.83. 403,780 shares traded hands during trading, a decline of 30% from the average daily volume of 576,140 shares. The stock had previously closed at $0.8658.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Weiss Ratings lowered NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 22nd. Northland Securities assumed coverage on NET Power in a research report on Monday, September 14th. They issued an “outperform” rating and a $2.75 target price on the stock. Wall Street Zen cut NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. Finally, Zacks Research raised shares of NET Power to a “hold” rating in a research note on Tuesday, September 15th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.25.
Check Out Our Latest Report on NET Power
NET Power Stock Performance
The company has a 50 day simple moving average of $1.42 and a two-hundred day simple moving average of $1.72. The company has a market cap of $186.63 million, a PE ratio of -0.13 and a beta of 1.25.
NET Power (NYSE:NPWR – Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.84). As a group, analysts expect that NET Power Inc. will post -1.14 earnings per share for the current fiscal year.
Insider Buying and Selling
In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 507,100 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $1.95, for a total transaction of $988,845.00. Following the transaction, the insider directly owned 1,242,900 shares of the company’s stock, valued at $2,423,655. This represents a 28.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 1,400,745 shares of company stock worth $2,562,482 over the last 90 days. Corporate insiders own 2.06% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of NPWR. Tidal Investments LLC lifted its holdings in shares of NET Power by 190.0% during the second quarter. Tidal Investments LLC now owns 1,546,562 shares of the company’s stock worth $2,583,000 after buying an additional 1,013,309 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of NET Power by 644.0% during the 1st quarter. Renaissance Technologies LLC now owns 703,800 shares of the company’s stock valued at $1,098,000 after acquiring an additional 609,200 shares in the last quarter. MRA Advisory Group bought a new stake in NET Power in the third quarter valued at about $320,000. Janney Montgomery Scott LLC raised its position in NET Power by 10.2% in the first quarter. Janney Montgomery Scott LLC now owns 133,000 shares of the company’s stock worth $207,000 after purchasing an additional 12,351 shares in the last quarter. Finally, SIR Capital Management L.P. bought a new position in NET Power during the second quarter worth about $183,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.
NET Power Company Profile
NET Power Inc is a clean-energy technology company developing power-generation systems designed to produce electricity while capturing carbon dioxide emissions. Its proprietary Allam-Fetvedt Cycle uses high-pressure carbon dioxide as the working fluid in a closed-loop process, enabling the company’s systems to generate power from natural gas with carbon capture integrated into the plant design.
The company’s technology is intended to produce electricity, pipeline-quality carbon dioxide and water, while avoiding the conventional emissions associated with fossil-fuel power generation.
Recommended Stories
- Five stocks we like better than NET Power
- Why ExxonMobil and Chevron Reminded Investors to Keep it Simple
- Amazon Has Erased Its Earnings Sell-Off, But Is the Biggest Opportunity Still Ahead?
- onsemi’s AI Sales Surge 175%: Is a Stock Recovery Next?
- Energy Transfer’s Earnings Miss May Be Hiding Its Strongest Advantage
Receive News & Ratings for NET Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NET Power and related companies with MarketBeat.com's FREE daily email newsletter.
