NET Power Inc. (NYSE:NPWR – Get Free Report) shares fell 2.4% on Tuesday . The company traded as low as $10.72 and last traded at $10.90. 95,039 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 434,317 shares. The stock had previously closed at $11.17.
Analyst Ratings Changes
A number of analysts have commented on NPWR shares. US Capital Advisors raised shares of NET Power to a “strong-buy” rating in a research note on Monday, October 28th. Citigroup cut their target price on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th.
Get Our Latest Stock Analysis on NPWR
NET Power Stock Performance
NET Power (NYSE:NPWR – Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.17. During the same period in the prior year, the business earned ($0.44) earnings per share. Research analysts forecast that NET Power Inc. will post -0.4 earnings per share for the current year.
Insider Activity at NET Power
In other news, major shareholder Npeh, Llc sold 120,500 shares of NET Power stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $6.92, for a total value of $833,860.00. Following the completion of the transaction, the insider now owns 716,987 shares in the company, valued at approximately $4,961,550.04. The trade was a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder 8 Rivers Capital, Llc sold 431,009 shares of the 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,681,393 shares of company stock worth $16,940,374. Company insiders own 2.71% of the company’s stock.
Institutional Investors Weigh In On NET Power
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pekin Hardy Strauss Inc. increased its holdings in shares of NET Power by 5.4% in the second quarter. Pekin Hardy Strauss Inc. now owns 29,365 shares of the company’s stock valued at $289,000 after purchasing an additional 1,500 shares in the last quarter. ELCO Management Co. LLC lifted its stake in shares of NET Power by 13.4% during the second quarter. ELCO Management Co. LLC now owns 20,924 shares of the company’s stock valued at $206,000 after acquiring an additional 2,474 shares during the period. MetLife Investment Management LLC increased its position in NET Power by 129.1% in the third quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock worth $91,000 after purchasing an additional 7,281 shares during the period. HITE Hedge Asset Management LLC raised its holdings in NET Power by 2.6% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 387,624 shares of the company’s stock worth $2,717,000 after purchasing an additional 9,987 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in NET Power during the 3rd quarter valued at about $82,000. Institutional investors and hedge funds 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.
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