NET Power (NYSE:NPWR) Trading Down 2.4% – What’s Next?

Shares of NET Power Inc. (NYSE:NPWR) were down 2.4% on Tuesday . The stock traded as low as $10.72 and last traded at $10.90. Approximately 95,039 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 434,317 shares. The stock had previously closed at $11.17.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NPWR. Citigroup cut their price target on NET Power from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. US Capital Advisors upgraded shares of NET Power to a “strong-buy” rating in a research note on Monday, October 28th.

NET Power Price Performance

The business has a fifty day simple moving average of $10.65 and a 200 day simple moving average of $9.21.

NET Power (NYSE:NPWR) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.17. During the same quarter last year, the firm posted ($0.44) earnings per share. Equities research analysts expect that NET Power Inc. will post -0.4 EPS for the current year.

Insider Buying and Selling

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 10,433 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $7.00, for a total transaction of $73,031.00. Following the sale, the insider now directly owns 14,290 shares of the company’s stock, valued at $100,030. This trade represents a 42.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash S. Patel sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were 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. Over the last ninety days, insiders sold 1,681,393 shares of company stock valued at $16,940,374. 2.71% of the stock is owned by insiders.

Institutional Trading of NET Power

Several large investors have recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC acquired a new position in shares of NET Power in the 2nd quarter valued at about $20,537,000. Marshall Wace LLP raised its stake in shares of NET Power by 226.9% in the 2nd quarter. Marshall Wace LLP now owns 583,688 shares of the company’s stock worth $5,738,000 after buying an additional 405,128 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of NET Power by 21.7% in the third quarter. Geode Capital Management LLC now owns 646,584 shares of the company’s stock valued at $4,535,000 after buying an additional 115,189 shares during the period. Thomist Capital Management LP bought a new position in NET Power during the second quarter valued at about $1,073,000. Finally, SIR Capital Management L.P. acquired a new position in NET Power during the second quarter worth about $971,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.

About NET Power

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.