Barclays Cuts NET Power (NYSE:NPWR) Price Target to $11.00

NET Power (NYSE:NPWR) had its price target cut by Barclays from $13.00 to $11.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 28.06% from the stock’s current price.

NET Power Stock Performance

NYSE:NPWR traded down $0.27 on Wednesday, reaching $8.59. 61,311 shares of the stock traded hands, compared to its average volume of 349,816. The company’s 50 day moving average is $9.57 and its 200-day moving average is $9.80. NET Power has a 1-year low of $7.55 and a 1-year high of $17.62.

NET Power (NYSE:NPWR) last posted its quarterly earnings results on Monday, May 13th. The company reported ($0.16) earnings per share (EPS) for the quarter. Research analysts anticipate that NET Power will post -0.21 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Sk Inc. sold 2,500,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $10.04, for a total value of $25,100,000.00. Following the transaction, the insider now directly owns 2,500,000 shares in the company, valued at approximately $25,100,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On NET Power

Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of NET Power in the 4th quarter worth $31,000. Williams Jones Wealth Management LLC. bought a new position in NET Power during the 1st quarter valued at $128,000. XTX Topco Ltd bought a new position in NET Power during the 2nd quarter valued at $133,000. K2 Principal Fund L.P. bought a new position in NET Power during the 1st quarter valued at $148,000. Finally, Neuberger Berman Group LLC purchased a new stake in shares of NET Power during the 4th quarter valued at $163,000. 53.62% of the stock is currently owned by institutional investors.

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.