NET Power (NYSE:NPWR) Shares Up 12.2% – Here’s What Happened

NET Power Inc. (NYSE:NPWR) was up 12.2% during trading on Tuesday . The stock traded as high as $10.47 and last traded at $10.20. Approximately 118,039 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 375,511 shares. The stock had previously closed at $9.09.

Wall Street Analyst Weigh In

A number of research firms have commented on NPWR. US Capital Advisors upgraded shares of NET Power to a “strong-buy” rating in a research note on Monday, October 28th. Barclays decreased 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. Finally, Citigroup dropped their target price on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, September 12th.

NET Power Price Performance

The company has a fifty day moving average price of $7.82 and a 200-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) earnings per share (EPS) for the quarter. The company had revenue of $0.24 million for the quarter. On average, research analysts anticipate that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Insider Transactions at NET Power

In related news, major shareholder Npeh, Llc sold 120,500 shares of NET Power stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $6.92, for a total transaction of $833,860.00. Following the completion of the transaction, the insider now directly owns 716,987 shares of the company’s stock, valued at approximately $4,961,550.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NET Power news, major shareholder Npeh, Llc sold 120,500 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $6.92, for a total value of $833,860.00. Following the sale, the insider now owns 716,987 shares in the company, valued at $4,961,550.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder 8 Rivers Capital, Llc sold 517,618 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $7.12, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,204,829 shares of company stock worth $8,679,686. 2.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NET Power

A number of large investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC raised its stake in shares of NET Power by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock worth $91,000 after acquiring an additional 7,281 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in NET Power in the third quarter worth $82,000. Charles Schwab Investment Management Inc. increased its position in shares of NET Power by 24.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 244,852 shares of the company’s stock worth $1,716,000 after purchasing an additional 48,165 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of NET Power during the 3rd quarter valued at $394,000. Finally, Quest Partners LLC acquired a new stake in shares of NET Power in the 3rd quarter worth $153,000. 53.62% of the stock is currently owned by institutional investors.

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.