NET Power (NYSE:NPWR) Shares Gap Down – Here’s What Happened

Shares of NET Power Inc. (NYSE:NPWR) gapped down before the market opened on Tuesday . The stock had previously closed at $4.75, but opened at $3.15. NET Power shares last traded at $3.02, with a volume of 1,028,652 shares trading hands.

Analyst Upgrades and Downgrades

NPWR has been the topic of a number of recent research reports. Citigroup upgraded shares of NET Power from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $14.00 to $6.00 in a research report on Tuesday. Barclays cut their target price on shares of NET Power from $11.00 to $3.00 and set an “equal weight” rating on the stock in a report on Wednesday.

NET Power Stock Performance

The stock has a 50 day moving average of $8.20 and a 200 day moving average of $8.84.

Institutional Trading of NET Power

A number of large investors have recently modified their holdings of the company. LPL Financial LLC grew its position in NET Power by 15.0% in the 4th quarter. LPL Financial LLC now owns 14,036 shares of the company’s stock worth $149,000 after purchasing an additional 1,832 shares during the last quarter. Nebula Research & Development LLC boosted its position in shares of NET Power by 26.0% during the fourth quarter. Nebula Research & Development LLC now owns 19,107 shares of the company’s stock worth $202,000 after buying an additional 3,945 shares during the period. Covestor Ltd bought a new position in NET Power in the 4th quarter worth approximately $43,000. Barclays PLC increased its position in NET Power by 16.0% in the 4th quarter. Barclays PLC now owns 32,351 shares of the company’s stock valued at $342,000 after acquiring an additional 4,468 shares during the period. Finally, Wells Fargo & Company MN raised its stake in NET Power by 29.5% during the 4th quarter. Wells Fargo & Company MN now owns 28,146 shares of the company’s stock valued at $298,000 after acquiring an additional 6,415 shares in the last quarter. 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.