NET Power (NYSE:NPWR) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of NET Power (NYSE:NPWRFree Report) from a sell rating to a strong sell rating in a research report sent to investors on Saturday.

Separately, Weiss Ratings cut NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.50.

Read Our Latest Report on NET Power

NET Power Stock Up 1.0%

NYSE:NPWR opened at $1.55 on Friday. The company has a market cap of $348.97 million, a P/E ratio of -0.26 and a beta of 1.06. NET Power has a fifty-two week low of $1.45 and a fifty-two week high of $5.20. The firm’s 50 day moving average is $1.79 and its two-hundred day moving average is $1.94.

NET Power (NYSE:NPWRGet Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.05).

Insider Buying and Selling

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 400,000 shares of NET Power stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $2.44, for a total transaction of $976,000.00. Following the transaction, the insider directly owned 3,000,000 shares of the company’s stock, valued at $7,320,000. The trade was a 11.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.06% of the company’s stock.

Institutional Investors Weigh In On NET Power

Large investors have recently made changes to their positions in the business. CenterBook Partners LP increased its holdings in NET Power by 48.0% in the 4th quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock valued at $4,214,000 after purchasing an additional 599,725 shares in the last quarter. Integrity Alliance LLC. purchased a new position in NET Power in the fourth quarter valued at about $40,000. JPMorgan Chase & Co. lifted its stake in shares of NET Power by 1,226.9% during the third quarter. JPMorgan Chase & Co. now owns 212,929 shares of the company’s stock worth $641,000 after purchasing an additional 196,882 shares in the last quarter. Argentarii LLC lifted its stake in shares of NET Power by 413.0% during the fourth quarter. Argentarii LLC now owns 263,507 shares of the company’s stock worth $601,000 after purchasing an additional 212,142 shares in the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of NET Power in the fourth quarter worth about $41,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

About NET Power

(Get Free Report)

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.

Further Reading

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