NET Power (NYSE:NPWR) Trading Down 4.5% – Here’s Why

NET Power Inc. (NYSE:NPWR) shares dropped 4.5% on Wednesday . The company traded as low as $12.28 and last traded at $12.34. Approximately 191,531 shares changed hands during trading, a decline of 52% from the average daily volume of 399,700 shares. The stock had previously closed at $12.92.

Wall Street Analyst Weigh In

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

NET Power Stock Up 1.7 %

The company has a 50-day simple moving average of $8.56 and a 200 day simple moving average of $9.18.

NET Power (NYSE:NPWR) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.17. During the same period in the prior year, the company earned ($0.44) earnings per share. On average, equities analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current year.

Insiders Place Their Bets

In other NET Power news, major shareholder Npeh, Llc sold 83,325 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $8.10, for a total value of $674,932.50. Following the transaction, the insider now owns 416,675 shares of the company’s stock, valued at approximately $3,375,067.50. The trade was a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 8 Rivers Capital, Llc sold 26,926 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $7.00, for a total value of $188,482.00. Following the completion of the transaction, the insider now directly owns 73,074 shares in the company, valued at approximately $511,518. This represents a 26.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,525,200 shares of company stock valued at $12,716,360 in the last three months. Company insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of NET Power by 65.1% in the 1st quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock valued at $27,617,000 after buying an additional 956,134 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in NET Power during the second quarter worth about $662,000. Summit Securities Group LLC bought a new stake in NET Power during the second quarter worth about $268,000. Rhumbline Advisers bought a new stake in NET Power during the second quarter worth about $282,000. Finally, SIR Capital Management L.P. bought a new stake in NET Power in the second quarter valued at approximately $971,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.

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.