Akash S. Patel Sells 150,000 Shares of NET Power Inc. (NYSE:NPWR) Stock

NET Power Inc. (NYSE:NPWR) CFO Akash S. Patel sold 150,000 shares of NET Power stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $12.65, for a total transaction of $1,897,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

NET Power Stock Up 4.3 %

Shares of NET Power stock opened at $12.99 on Thursday. The company has a 50 day moving average of $9.03 and a 200-day moving average of $9.22. NET Power Inc. has a 1-year low of $6.57 and a 1-year high of $14.28.

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

Analyst Upgrades and Downgrades

NPWR has been the topic of several recent research reports. Barclays lowered their target price on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 14th. US Capital Advisors raised NET Power to a “strong-buy” rating in a report on Monday, October 28th. Finally, Citigroup reduced their target price on NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th.

Institutional Trading of NET Power

Several large investors have recently bought and sold shares of NPWR. Encompass Capital Advisors LLC acquired a new position in NET Power during the second quarter worth about $20,537,000. Vanguard Group Inc. increased its position in NET Power by 65.1% during the 1st quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock worth $27,617,000 after purchasing an additional 956,134 shares in the last quarter. Marshall Wace LLP lifted its stake in NET Power by 226.9% in the 2nd quarter. Marshall Wace LLP now owns 583,688 shares of the company’s stock valued at $5,738,000 after purchasing an additional 405,128 shares during the last quarter. Geode Capital Management LLC boosted its position in 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 in the last quarter. Finally, Thomist Capital Management LP bought a new stake in shares of NET Power during the second quarter worth $1,073,000. 53.62% of the stock is 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.