NET Power (NYSE:NPWR) Shares Up 5.4% – Here’s What Happened

NET Power Inc. (NYSE:NPWR)’s stock price traded up 5.4% during mid-day trading on Tuesday . The company traded as high as $13.18 and last traded at $13.07. 165,516 shares were traded during trading, a decline of 58% from the average session volume of 398,111 shares. The stock had previously closed at $12.40.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NPWR. Barclays decreased their price target on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 14th. Citigroup lowered their price objective on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Finally, US Capital Advisors raised shares of NET Power to a “strong-buy” rating in a research report on Monday, October 28th.

NET Power Stock Up 6.6 %

The firm’s fifty day moving average is $8.22 and its 200-day moving average is $9.11.

NET Power (NYSE:NPWR) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.17. During the same period last year, the company earned ($0.44) earnings per share. Equities analysts predict that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Npeh, Llc sold 83,325 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $8.10, for a total value of $674,932.50. Following the transaction, the insider now owns 416,675 shares in the company, valued at $3,375,067.50. This represents a 16.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 8 Rivers Capital, Llc sold 80,122 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $7.02, for a total value of $562,456.44. Following the transaction, the insider now owns 342,364 shares in the company, valued at approximately $2,403,395.28. This trade represents a 18.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,204,829 shares of company stock valued at $8,679,686. 2.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NET Power

A number of institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in shares of NET Power in the third quarter valued at approximately $82,000. MetLife Investment Management LLC increased its position in NET Power by 129.1% in the third quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock worth $91,000 after purchasing an additional 7,281 shares during the period. XTX Topco Ltd bought a new position in NET Power in the second quarter valued at approximately $133,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of NET Power during the second quarter worth $136,000. Finally, K2 Principal Fund L.P. acquired a new position in NET Power in the first quarter valued at about $148,000. 53.62% of the stock is 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.