Shares of NET Power Inc. (NYSE:NPWR – Get Free Report) were up 13.9% during trading on Tuesday . The company traded as high as $2.43 and last traded at $2.3240. Approximately 1,226,825 shares changed hands during mid-day trading, an increase of 60% from the average daily volume of 766,965 shares. The stock had previously closed at $2.04.
Analyst Ratings Changes
Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of NET Power in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, NET Power has an average rating of “Hold” and an average price target of $3.50.
Get Our Latest Stock Report on NPWR
NET Power Price Performance
NET Power (NYSE:NPWR – Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05).
Insider Activity at NET Power
In other news, major shareholder 8 Rivers Capital, Llc sold 150,000 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $2.03, for a total transaction of $304,500.00. Following the transaction, the insider directly owned 950,000 shares of the company’s stock, valued at approximately $1,928,500. The trade was a 13.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 760,000 shares of company stock worth $1,572,348 over the last 90 days. Insiders own 2.10% of the company’s stock.
Institutional Trading of NET Power
Several institutional investors have recently added to or reduced their stakes in the stock. Stonegate Investment Group LLC raised its holdings in NET Power by 20.0% in the third quarter. Stonegate Investment Group LLC now owns 30,000 shares of the company’s stock valued at $90,000 after acquiring an additional 5,000 shares in the last quarter. JPMorgan Chase & Co. raised 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 valued at $40,000 after acquiring an additional 5,255 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NET Power by 44.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company’s stock valued at $46,000 after acquiring an additional 5,739 shares in the last quarter. Barclays PLC raised its holdings in NET Power by 14.6% in the fourth quarter. Barclays PLC now owns 54,750 shares of the company’s stock valued at $125,000 after acquiring an additional 6,970 shares in the last quarter. Finally, Engineers Gate Manager LP raised its holdings in NET Power by 17.8% in the second quarter. Engineers Gate Manager LP now owns 46,433 shares of the company’s stock valued at $115,000 after acquiring an additional 7,002 shares in the last quarter. 53.62% of the stock is owned by institutional investors and hedge funds.
About NET Power
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.
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