NET Power Inc. (NYSE:NPWR) Short Interest Update

NET Power Inc. (NYSE:NPWR) was the recipient of a significant drop in short interest in February. As of February 13th, there was short interest totaling 2,760,739 shares, a drop of 17.5% from the January 29th total of 3,347,044 shares. Based on an average daily trading volume, of 860,763 shares, the days-to-cover ratio is presently 3.2 days. Approximately 1.3% of the company’s shares are short sold. Approximately 1.3% of the company’s shares are short sold. Based on an average daily trading volume, of 860,763 shares, the days-to-cover ratio is presently 3.2 days.

NET Power Trading Down 1.2%

NYSE NPWR traded down $0.03 during trading hours on Tuesday, reaching $2.10. The company had a trading volume of 59,543 shares, compared to its average volume of 808,697. NET Power has a 1-year low of $1.48 and a 1-year high of $6.99. The stock has a market capitalization of $465.38 million, a P/E ratio of -0.27 and a beta of 0.84. The stock has a 50-day moving average of $2.31 and a 200 day moving average of $2.72.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NPWR shares. Citigroup reduced their price target on NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NET Power in a research note on Thursday, January 22nd. Finally, Barclays raised shares of NET Power from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $2.00 to $3.00 in a research note on Friday, November 14th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.50.

Insiders Place Their Bets

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 230,000 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $2.63, for a total value of $604,900.00. Following the completion of the sale, the insider directly owned 1,550,000 shares in the company, valued at $4,076,500. This represents a 12.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 2,265,000 shares of company stock worth $5,374,455 over the last quarter. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. CenterBook Partners LP grew its position in NET Power by 78.8% in the 3rd quarter. CenterBook Partners LP now owns 1,248,348 shares of the company’s stock valued at $3,758,000 after acquiring an additional 550,270 shares in the last quarter. Legacy Advisors LLC purchased a new position in shares of NET Power in the third quarter valued at approximately $49,000. UBS Group AG grew its holdings in shares of NET Power by 183.1% in the third quarter. UBS Group AG now owns 430,452 shares of the company’s stock valued at $1,296,000 after purchasing an additional 278,400 shares in the last quarter. Quantbot Technologies LP purchased a new stake in NET Power during the 3rd quarter worth approximately $39,000. Finally, JPMorgan Chase & Co. lifted its holdings in NET Power by 1,226.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,929 shares of the company’s stock worth $641,000 after buying an additional 196,882 shares in the last quarter. 53.62% of the stock is currently owned by institutional investors and hedge funds.

About NET Power

NET Power, Inc is an energy technology company focused on developing and commercializing power generation plants that burn natural gas and other fuels with near-zero carbon emissions. The company’s core innovation is the proprietary Allam-Fetvedt Cycle, a supercritical carbon dioxide power cycle that captures all carbon dioxide produced during combustion without the need for separate carbon capture systems. By integrating gas combustion, heat exchange and carbon dioxide separation into a single closed-loop process, NET Power aims to deliver baseload power with efficiencies and emissions profiles competitive with conventional and renewable generation sources.

Since demonstrating its first full-scale Allam-Cycle facility in La Porte, Texas, NET Power has moved from pilot operation toward commercial deployment.