NET Power (NYSE:NPWR) Sees Strong Trading Volume – Here’s What Happened

NET Power Inc. (NYSE:NPWR) shares saw strong trading volume on Wednesday . 461,891 shares traded hands during trading, an increase of 20% from the previous session’s volume of 385,458 shares.The stock last traded at $12.65 and had previously closed at $11.33.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NPWR shares. Barclays cut their price objective on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 14th. Citigroup cut their price objective on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, US Capital Advisors upgraded shares of NET Power to a “strong-buy” rating in a research report on Monday, October 28th.

NET Power Trading Up 12.6 %

The business has a fifty day moving average price of $7.76 and a two-hundred day moving average price of $9.06.

NET Power (NYSE:NPWR) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.06) EPS for the quarter. The firm had revenue of $0.24 million for the quarter. As a group, analysts expect that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 517,618 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $7.12, for a total value of $3,685,440.16. Following the transaction, the insider now directly owns 199,369 shares in the company, valued at approximately $1,419,507.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder 8 Rivers Capital, Llc sold 517,618 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $7.12, for a total value of $3,685,440.16. Following the completion of the sale, the insider now owns 199,369 shares in the company, valued at $1,419,507.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Npeh, Llc sold 21,155 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $7.28, for a total transaction of $154,008.40. Following the sale, the insider now owns 107,852 shares in the company, valued at approximately $785,162.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,204,829 shares of company stock worth $8,679,686. Company insiders own 2.71% of the company’s stock.

Institutional Investors Weigh In On NET Power

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of NET Power by 65.1% in the first quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock worth $27,617,000 after purchasing an additional 956,134 shares during the last quarter. K2 Principal Fund L.P. purchased a new stake in shares of NET Power in the first quarter valued at about $148,000. Bank of New York Mellon Corp bought a new position in shares of NET Power during the second quarter valued at about $662,000. Summit Securities Group LLC purchased a new position in NET Power during the second quarter worth about $268,000. Finally, Rhumbline Advisers bought a new position in shares of NET Power during the 2nd quarter worth approximately $282,000. Institutional investors own 53.62% of the company’s stock.

About NET Power

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.