NET Power (NYSE:NPWR) Shares Gap Down – What’s Next?

NET Power Inc. (NYSE:NPWR)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $2.95, but opened at $2.24. NET Power shares last traded at $2.8650, with a volume of 1,080,545 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of NET Power in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $4.00.

NET Power Stock Performance

The firm’s fifty day moving average price is $3.26 and its 200 day moving average price is $2.71. The firm has a market cap of $644.07 million, a P/E ratio of -1.24 and a beta of 0.78.

NET Power (NYSE:NPWR) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.24). As a group, analysts expect that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity at NET Power

In related news, major shareholder 8 Rivers Capital, Llc sold 786,832 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $4.12, for a total transaction of $3,241,747.84. Following the completion of the sale, the insider directly owned 1,973,000 shares in the company, valued at $8,128,760. This represents a 28.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders sold 2,179,463 shares of company stock valued at $8,639,384. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On NET Power

Large investors have recently added to or reduced their stakes in the company. Stonegate Investment Group LLC grew its position in shares of NET Power by 20.0% in the 3rd quarter. Stonegate Investment Group LLC now owns 30,000 shares of the company’s stock worth $90,000 after buying an additional 5,000 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in NET Power by 48.7% in the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock worth $40,000 after purchasing an additional 5,255 shares during the last quarter. Deutsche Bank AG increased its position in shares of NET Power by 63.0% during the first quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock worth $37,000 after purchasing an additional 5,429 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of NET Power by 44.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company’s stock valued at $46,000 after purchasing an additional 5,739 shares during the last quarter. Finally, Engineers Gate Manager LP grew its stake in NET Power by 17.8% during the 2nd quarter. Engineers Gate Manager LP now owns 46,433 shares of the company’s stock worth $115,000 after buying an additional 7,002 shares during the last quarter. 53.62% of the stock is currently owned by institutional investors.

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.