NET Power (NYSE:NPWR) Shares Down 7.3% – What’s Next?

NET Power Inc. (NYSE:NPWR)’s stock price traded down 7.3% during trading on Monday . The stock traded as low as $11.58 and last traded at $11.87. 247,840 shares were traded during mid-day trading, a decline of 41% from the average session volume of 416,773 shares. The stock had previously closed at $12.81.

Analysts Set New Price Targets

A number of brokerages recently commented on NPWR. Citigroup decreased their price target on NET Power from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Barclays reduced their price target on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 14th. Finally, US Capital Advisors raised shares of NET Power to a “strong-buy” rating in a research report on Monday, October 28th.

NET Power Price Performance

The stock has a 50-day simple moving average of $9.26 and a 200-day simple moving average of $9.23.

NET Power (NYSE:NPWR) last issued its earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.17. During the same quarter in the prior year, the business posted ($0.44) EPS. As a group, equities analysts predict that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 431,009 shares of NET Power stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $12.76, for a total value of $5,499,674.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash S. Patel sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $12.65, for a total transaction of $1,897,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,106,209 shares of company stock worth $20,113,535 over the last 90 days. Corporate insiders own 2.71% of the company’s stock.

Institutional Trading of NET Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of NET Power by 65.1% during the 1st quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock valued at $27,617,000 after purchasing an additional 956,134 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of NET Power during the 2nd quarter worth approximately $20,537,000. SIR Capital Management L.P. bought a new position in shares of NET Power in the 2nd quarter worth approximately $971,000. S&CO Inc. lifted its stake in shares of NET Power by 25.3% in the 3rd quarter. S&CO Inc. now owns 251,905 shares of the company’s stock valued at $1,765,000 after purchasing an additional 50,805 shares during the period. Finally, Thomist Capital Management LP bought a new stake in shares of NET Power during the second quarter valued at approximately $1,073,000. Hedge funds and other institutional investors own 53.62% of the company’s stock.

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.