NET Power (NYSE:NPWR) Shares Gap Up – Here’s What Happened

NET Power Inc. (NYSE:NPWR) gapped up prior to trading on Monday . The stock had previously closed at $2.50, but opened at $2.61. NET Power shares last traded at $2.58, with a volume of 174,299 shares changing hands.

Analyst Ratings Changes

NPWR has been the subject of several research reports. Barclays lowered 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 report on Wednesday, April 23rd. Citigroup upgraded shares of NET Power from a “neutral” rating to a “buy” rating and cut their price objective for the company from $14.00 to $6.00 in a research report on Tuesday, March 11th.

NET Power Trading Down 7.5%

The stock has a market capitalization of $502.76 million, a P/E ratio of -1.11 and a beta of 0.64. The company’s 50-day moving average is $2.03 and its two-hundred day moving average is $5.64.

NET Power (NYSE:NPWR) last issued its quarterly earnings data on Monday, May 12th. The company reported ($1.55) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($1.44). Sell-side analysts expect that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Institutional Trading of NET Power

A number of hedge funds and other institutional investors have recently made changes to their positions in NPWR. Handelsbanken Fonder AB bought a new stake in shares of NET Power during the 4th quarter worth about $175,000. Bank of New York Mellon Corp raised its holdings in shares of NET Power by 32.1% in the 4th quarter. Bank of New York Mellon Corp now owns 66,411 shares of the company’s stock worth $703,000 after purchasing an additional 16,135 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of NET Power in the 4th quarter worth approximately $181,000. Charles Schwab Investment Management Inc. raised its holdings in shares of NET Power by 12.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 275,812 shares of the company’s stock worth $2,921,000 after purchasing an additional 30,960 shares in the last quarter. Finally, Kapstone Financial Advisors LLC bought a new stake in shares of NET Power in the 4th quarter worth approximately $184,000. 53.62% of the stock is currently owned by institutional investors.

About NET Power

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.