NET Power (NYSE:NPWR) Stock Price Down 5.1% After Analyst Downgrade

NET Power Inc. (NYSE:NPWR)’s stock price dropped 5.1% on Wednesday after Barclays lowered their price target on the stock from $11.00 to $3.00. Barclays currently has an equal weight rating on the stock. NET Power traded as low as $2.87 and last traded at $3.06. Approximately 547,307 shares traded hands during trading, a decline of 44% from the average daily volume of 973,301 shares. The stock had previously closed at $3.22.

Separately, Citigroup raised shares of NET Power from a “neutral” rating to a “buy” rating and lowered their target price for the company from $14.00 to $6.00 in a research note on Tuesday.

Institutional Trading of NET Power

Several large investors have recently added to or reduced their stakes in NPWR. Vanguard Group Inc. lifted its position in NET Power by 13.1% during the fourth quarter. Vanguard Group Inc. now owns 2,865,402 shares of the company’s stock valued at $30,345,000 after buying an additional 332,554 shares during the period. Dimensional Fund Advisors LP raised its position in NET Power by 930.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 141,958 shares of the company’s stock worth $1,505,000 after buying an additional 128,187 shares during the last quarter. Raymond James Financial Inc. purchased a new position in NET Power in the 4th quarter worth about $1,264,000. Geode Capital Management LLC raised its position in NET Power by 21.7% in the 3rd quarter. Geode Capital Management LLC now owns 646,584 shares of the company’s stock worth $4,535,000 after buying an additional 115,189 shares during the last quarter. Finally, Man Group plc bought a new stake in shares of NET Power during the 4th quarter valued at about $1,066,000. Institutional investors own 53.62% of the company’s stock.

NET Power Stock Performance

The stock has a 50 day simple moving average of $8.34 and a 200-day simple moving average of $8.88.

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.