NET Power (NYSE:NPWR) Shares Climb 1.2% – What’s Next?

NET Power Inc. (NYSE:NPWR) shares were up 1.2% on Thursday. The company traded as high as $1.27 and last traded at $1.2450. Approximately 590,727 shares were traded during trading, an increase of 9% from the average session volume of 541,428 shares. The stock had previously closed at $1.23.

Wall Street Analyst Weigh In

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

NET Power Stock Down 0.4%

The firm has a market capitalization of $277.70 million, a P/E ratio of -0.19 and a beta of 1.16. The business’s 50-day simple moving average is $1.67 and its 200 day simple moving average is $1.71.

NET Power (NYSE:NPWR) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.84). Sell-side analysts predict that NET Power Inc. will post -1.14 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder 8 Rivers Capital, Llc sold 507,100 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $1.95, for a total value of $988,845.00. Following the completion of the transaction, the insider directly owned 1,242,900 shares of the company’s stock, valued at $2,423,655. This represents a 28.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 2,005,858 shares of company stock valued at $3,460,668. 2.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NET Power

Several hedge funds have recently bought and sold shares of NPWR. Bank of America Corp DE increased its stake in NET Power by 40.1% during the 1st quarter. Bank of America Corp DE now owns 35,083 shares of the company’s stock valued at $55,000 after purchasing an additional 10,034 shares in the last quarter. Janney Montgomery Scott LLC increased its position in NET Power by 10.2% during the first quarter. Janney Montgomery Scott LLC now owns 133,000 shares of the company’s stock valued at $207,000 after acquiring an additional 12,351 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of NET Power during the 1st quarter valued at about $30,000. Bank of New York Mellon Corp bought a new position in shares of NET Power in the 2nd quarter worth approximately $140,000. Finally, SIR Capital Management L.P. purchased a new position in shares of NET Power in the second quarter worth approximately $183,000. Institutional investors own 53.62% of the company’s stock.

NET Power Company Profile

NET Power, Inc develops technology for generating reliable electricity from natural gas while capturing carbon dioxide emissions. Its proprietary Allam-Fetvedt Cycle uses carbon dioxide as the working fluid in a high-pressure power-generation process, enabling the production of electricity and a concentrated carbon dioxide stream that can be transported for utilization or permanent storage.

The company’s technology is designed to support low-emissions, dispatchable power generation and can be integrated with carbon capture, utilization and storage systems.