NET Power (NYSE:NPWR) Announces Quarterly Earnings Results

NET Power (NYSE:NPWR) released its quarterly earnings data on Monday. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.05), Zacks reports.

NET Power Price Performance

Shares of NET Power stock traded up $0.02 during trading on Monday, hitting $2.02. The stock had a trading volume of 806,756 shares, compared to its average volume of 769,343. The firm’s fifty day simple moving average is $1.76 and its 200-day simple moving average is $2.33. The stock has a market cap of $452.20 million, a PE ratio of -0.28 and a beta of 1.03. NET Power has a 12 month low of $1.46 and a 12 month high of $5.20.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of NET Power in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NET Power currently has an average rating of “Hold” and a consensus target price of $3.50.

Insider Activity

In related news, major shareholder 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $2.04, for a total transaction of $204,000.00. Following the completion of the sale, the insider owned 400,000 shares in the company, valued at $816,000. This trade represents a 20.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders have sold 800,000 shares of company stock valued at $1,655,548. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NET Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its holdings in NET Power by 99.3% during the 4th quarter. Empowered Funds LLC now owns 444,734 shares of the company’s stock valued at $1,014,000 after buying an additional 221,530 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in NET Power during the 4th quarter valued at about $194,000. Polymer Capital Management US LLC bought a new stake in NET Power during the 4th quarter valued at about $96,000. Schonfeld Strategic Advisors LLC bought a new stake in NET Power during the 4th quarter valued at about $25,000. Finally, AQR Capital Management LLC lifted its holdings in NET Power by 51.1% during the 4th quarter. AQR Capital Management LLC now owns 56,598 shares of the company’s stock valued at $129,000 after buying an additional 19,149 shares in the last quarter. Institutional investors own 53.62% of the company’s stock.

NET Power Company Profile

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.