Pekin Hardy Strauss Inc. Has $289,000 Position in NET Power Inc. (NYSE:NPWR)

Pekin Hardy Strauss Inc. grew its stake in shares of NET Power Inc. (NYSE:NPWR) by 5.4% in the second quarter, Holdings Channel reports. The institutional investor owned 29,365 shares of the company’s stock after purchasing an additional 1,500 shares during the period. Pekin Hardy Strauss Inc.’s holdings in NET Power were worth $289,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in NPWR. Williams Jones Wealth Management LLC. acquired a new position in shares of NET Power during the first quarter valued at about $128,000. K2 Principal Fund L.P. acquired a new position in shares of NET Power during the first quarter valued at about $148,000. Neuberger Berman Group LLC acquired a new position in shares of NET Power during the fourth quarter valued at about $163,000. Jump Financial LLC acquired a new position in NET Power in the fourth quarter worth about $197,000. Finally, Summit Securities Group LLC bought a new position in NET Power during the second quarter worth about $268,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

Insider Activity

In other news, major shareholder Npeh, Llc sold 83,325 shares of NET Power stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $8.10, for a total value of $674,932.50. Following the completion of the transaction, the insider now owns 416,675 shares in the company, valued at $3,375,067.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 269,419 shares of company stock worth $2,080,519. Insiders own 2.71% of the company’s stock.

NET Power Stock Performance

Shares of NPWR opened at $7.04 on Wednesday. NET Power Inc. has a 12 month low of $6.57 and a 12 month high of $17.62. The company has a 50-day moving average price of $8.56 and a two-hundred day moving average price of $9.71.

NET Power (NYSE:NPWR) last posted its earnings results on Monday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter. The firm had revenue of $0.24 million for the quarter. Analysts expect that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on NPWR. Citigroup cut their price target on shares of 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 cut their price target on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 14th.

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.