NET Power (NYSE:NPWR) Shares Up 5.4% – Here’s What Happened

NET Power Inc. (NYSE:NPWR) shares were up 5.4% on Tuesday . The stock traded as high as $13.18 and last traded at $13.07. Approximately 165,516 shares were traded during trading, a decline of 58% from the average daily volume of 398,111 shares. The stock had previously closed at $12.40.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NPWR shares. Citigroup decreased their target price on NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Barclays lowered 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. Finally, US Capital Advisors upgraded shares of NET Power to a “strong-buy” rating in a report on Monday, October 28th.

NET Power Stock Performance

The business’s 50 day moving average is $8.22 and its two-hundred day moving average is $9.11.

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

Insider Transactions at NET Power

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 26,926 shares of NET Power stock in a transaction on Friday, September 20th. The shares were 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 of the company’s stock, valued at $511,518. This trade represents a 26.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Npeh, Llc sold 120,500 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $6.92, for a total value of $833,860.00. Following the completion of the transaction, the insider now directly owns 716,987 shares in the company, valued at $4,961,550.04. This trade represents a 14.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,204,829 shares of company stock valued at $8,679,686. Corporate insiders own 2.71% of the company’s stock.

Institutional Investors Weigh In On NET Power

Several large investors have recently modified their holdings of the business. Pekin Hardy Strauss Inc. boosted its position in shares of NET Power by 5.4% in 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 in the last quarter. ELCO Management Co. LLC raised its position in 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 acquiring an additional 2,474 shares during the period. MetLife Investment Management LLC boosted its stake in NET Power by 129.1% during the third quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock worth $91,000 after buying an additional 7,281 shares during the last quarter. HITE Hedge Asset Management LLC increased its stake in NET Power by 2.6% during the third quarter. HITE Hedge Asset Management LLC now owns 387,624 shares of the company’s stock worth $2,717,000 after acquiring an additional 9,987 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of NET Power during the third quarter worth $82,000. Institutional investors own 53.62% of the company’s stock.

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.