NET Power Inc. (NYSE:NPWR – Get Free Report) shares traded down 4.7% on Monday . The stock traded as low as $8.36 and last traded at $8.36. 30,898 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 348,957 shares. The stock had previously closed at $8.77.
Analyst Upgrades and Downgrades
Separately, Barclays cut their target price on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday.
Get Our Latest Analysis on NET Power
NET Power Trading Down 7.3 %
NET Power (NYSE:NPWR – Get Free Report) last posted its quarterly earnings results on Monday, May 13th. The company reported ($0.16) earnings per share (EPS) for the quarter. On average, sell-side analysts expect that NET Power Inc. will post -0.21 earnings per share for the current year.
Insider Buying and Selling at NET Power
In other news, major shareholder Sk Inc. sold 2,500,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.71% of the stock is owned by insiders.
Institutional Trading of NET Power
Institutional investors and hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of NET Power during the fourth quarter worth about $31,000. Swiss National Bank bought a new stake in shares of NET Power during the fourth quarter valued at approximately $275,000. Jump Financial LLC acquired a new position in shares of NET Power during the fourth quarter worth approximately $197,000. Neuberger Berman Group LLC acquired a new stake in NET Power in the fourth quarter worth about $163,000. Finally, Berylson Capital Partners LLC bought a new position in NET Power in the 4th quarter valued at about $1,303,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.
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.
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