NET Power (NYSE:NPWR) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

NET Power (NYSE:NPWR) posted its quarterly earnings results on Thursday. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03), FiscalAI reports.

NET Power Stock Down 9.3%

Shares of NYSE:NPWR traded down $0.08 during trading on Thursday, hitting $0.76. 662,014 shares of the company were exchanged, compared to its average volume of 497,409. NET Power has a 1-year low of $0.75 and a 1-year high of $3.25. The company has a market capitalization of $169.77 million, a P/E ratio of -0.12 and a beta of 1.25. The business’s 50 day moving average is $1.30 and its 200-day moving average is $1.67.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NPWR shares. Zacks Research raised NET Power to a “hold” rating in a research note on Tuesday, September 15th. Northland Securities began coverage on NET Power in a research note on Monday, September 14th. They set an “outperform” rating and a $2.75 target price for the company. Weiss Ratings downgraded NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 22nd. Finally, Wall Street Zen cut shares of NET Power from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $3.25.

Insider Buying and Selling at NET Power

In related news, major shareholder 8 Rivers Capital, Llc sold 150,000 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $1.84, for a total transaction of $276,000.00. Following the sale, the insider owned 750,000 shares in the company, valued at $1,380,000. The trade was a 16.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 1,000,000 shares of company stock worth $1,922,784. Company insiders own 2.06% of the company’s stock.

NET Power Company Profile

NET Power, Inc. develops power-generation technology designed to produce electricity from natural gas while capturing carbon dioxide. Its system, known as the NET Power Cycle, burns natural gas with oxygen in a high-pressure carbon dioxide working fluid, generating electricity and a concentrated stream of carbon dioxide for capture and potential transport, storage or use. The company’s activities include developing and commercializing its technology and advancing projects for its deployment. Rather than operating as a conventional utility, NET Power focuses on enabling power plants that use its system.