NET Power (NYSE:NPWR – Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.84), FiscalAI reports.
NET Power Stock Performance
NET Power stock opened at $1.62 on Friday. The company’s 50 day simple moving average is $1.60 and its 200-day simple moving average is $1.80. NET Power has a 1 year low of $1.35 and a 1 year high of $5.20. The company has a market capitalization of $364.68 million, a price-to-earnings ratio of -0.28 and a beta of 1.07.
Analyst Ratings Changes
A number of research firms recently commented on NPWR. Weiss Ratings upgraded NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Wall Street Zen cut NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. One equities research 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. According to MarketBeat, NET Power currently has a consensus rating of “Hold” and an average target price of $3.50.
Insiders Place Their Bets
In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $1.60, for a total value of $56,000.00. Following the sale, the insider owned 2,000,000 shares of the company’s stock, valued at $3,200,000. The trade was a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 755,858 shares of company stock valued at $1,132,384. 2.06% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On NET Power
A number of institutional investors have recently modified their holdings of the company. Invesco Ltd. acquired a new position in NET Power during the 2nd quarter worth about $25,000. Schonfeld Strategic Advisors LLC purchased a new stake in NET Power during the fourth quarter worth about $25,000. Sei Investments Co. acquired a new stake in shares of NET Power during the second quarter worth about $32,000. Quantbot Technologies LP acquired a new stake in shares of NET Power during the third quarter worth about $39,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of 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 purchasing an additional 5,255 shares during the period. 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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