CenterBook Partners LP increased its holdings in shares of NET Power Inc. (NYSE:NPWR – Free Report) by 48.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,848,073 shares of the company’s stock after acquiring an additional 599,725 shares during the quarter. CenterBook Partners LP’s holdings in NET Power were worth $4,214,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its position in NET Power by 9.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 303,662 shares of the company’s stock worth $692,000 after buying an additional 25,237 shares during the period. Integrity Alliance LLC. acquired a new stake in NET Power during the 4th quarter worth approximately $40,000. Argentarii LLC boosted its position in NET Power by 413.0% during the 4th quarter. Argentarii LLC now owns 263,507 shares of the company’s stock worth $601,000 after buying an additional 212,142 shares during the period. Thompson Davis & CO. Inc. acquired a new stake in NET Power during the 4th quarter worth approximately $41,000. Finally, JPMorgan Chase & Co. boosted its position in NET Power by 1,226.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,929 shares of the company’s stock worth $641,000 after buying an additional 196,882 shares during the period. 53.62% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Weiss Ratings downgraded shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 27th. Wall Street Zen downgraded shares of NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $3.50.
NET Power Stock Performance
Shares of NYSE NPWR opened at $1.66 on Tuesday. The company has a market capitalization of $371.42 million, a P/E ratio of -0.28 and a beta of 1.04. NET Power Inc. has a 52-week low of $1.46 and a 52-week high of $5.20. The company’s 50 day moving average price is $1.82 and its 200-day moving average price is $2.13.
NET Power (NYSE:NPWR – Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05).
Insider Activity
In other news, major shareholder 8 Rivers Capital, Llc sold 400,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $2.44, for a total value of $976,000.00. Following the transaction, the insider owned 3,000,000 shares in the company, valued at approximately $7,320,000. The trade was a 11.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.06% of the company’s stock.
NET Power Profile
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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