NET Power (NYSE:NPWR) Stock Price Up 5.5% – Here’s Why

NET Power Inc. (NYSE:NPWR) shot up 5.5% on Wednesday . The company traded as high as $9.70 and last traded at $9.24. 165,592 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 364,657 shares. The stock had previously closed at $8.76.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NPWR shares. Citigroup lowered their target price 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. Barclays reduced their price target on NET Power from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 14th.

NET Power Stock Performance

The firm’s 50 day moving average is $7.56 and its two-hundred day moving average is $9.21.

NET Power (NYSE:NPWR) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.06) EPS for the quarter. The company had revenue of $0.24 million for the quarter. On average, analysts forecast that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity at NET Power

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 517,618 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $7.12, for a total transaction of $3,685,440.16. Following the transaction, the insider now owns 199,369 shares of the company’s stock, valued at $1,419,507.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Npeh, Llc sold 66,825 shares of NET Power stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $7.88, for a total transaction of $526,581.00. Following the completion of the transaction, the insider now directly owns 189,329 shares in the company, valued at approximately $1,491,912.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 8 Rivers Capital, Llc sold 517,618 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $7.12, for a total value of $3,685,440.16. Following the completion of the sale, the insider now owns 199,369 shares in the company, valued at approximately $1,419,507.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,204,829 shares of company stock valued at $8,679,686. 2.71% of the stock is owned by insiders.

Institutional Trading of NET Power

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pekin Hardy Strauss Inc. lifted its holdings in NET Power by 5.4% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 29,365 shares of the company’s stock worth $289,000 after purchasing an additional 1,500 shares during the last quarter. ELCO Management Co. LLC increased its holdings 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 worth $206,000 after purchasing an additional 2,474 shares during the period. Williams Jones Wealth Management LLC. bought a new position in NET Power during the 1st quarter worth $128,000. K2 Principal Fund L.P. acquired a new stake in shares of NET Power during the 1st quarter worth $148,000. Finally, XTX Topco Ltd bought a new stake in NET Power during the second quarter worth about $133,000. Institutional investors 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.