SIR Capital Management L.P. Sells 8,260 Shares of NET Power Inc. (NYSE:NPWR)

SIR Capital Management L.P. reduced its holdings in shares of NET Power Inc. (NYSE:NPWR) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 408,378 shares of the company’s stock after selling 8,260 shares during the period. SIR Capital Management L.P.’s holdings in NET Power were worth $4,325,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NPWR. Barclays PLC increased its holdings in NET Power by 276.7% in the third quarter. Barclays PLC now owns 27,883 shares of the company’s stock worth $196,000 after purchasing an additional 20,481 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of NET Power in the 4th quarter valued at $108,000. Handelsbanken Fonder AB bought a new stake in shares of NET Power in the 4th quarter valued at $175,000. Bank of New York Mellon Corp lifted its position in shares of NET Power by 32.1% during the 4th quarter. Bank of New York Mellon Corp now owns 66,411 shares of the company’s stock valued at $703,000 after acquiring an additional 16,135 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in NET Power during the fourth quarter worth $181,000. 53.62% of the stock is owned by institutional investors and hedge funds.

NET Power Stock Performance

Shares of NYSE NPWR opened at $1.59 on Friday. The firm’s 50-day simple moving average is $2.32 and its 200 day simple moving average is $7.09. The stock has a market cap of $346.03 million, a price-to-earnings ratio of -0.77 and a beta of 0.51. NET Power Inc. has a fifty-two week low of $1.56 and a fifty-two week high of $14.28.

NET Power (NYSE:NPWR) last announced its earnings results on Monday, May 12th. The company reported ($1.55) EPS for the quarter, missing the consensus estimate of ($0.11) by ($1.44). On average, sell-side analysts predict that NET Power Inc. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays downgraded shares of NET Power from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $3.00 to $2.00 in a research note on Wednesday, April 23rd. Citigroup raised NET Power from a “neutral” rating to a “buy” rating and decreased their target price for the company from $14.00 to $6.00 in a research report on Tuesday, March 11th.

NET Power Company Profile

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.