NET Power (NYSE:NPWR) Stock Price Down 4.3% – Should You Sell?

NET Power Inc. (NYSE:NPWR)’s stock price dropped 4.3% during mid-day trading on Wednesday . The stock traded as low as $8.93 and last traded at $9.23. Approximately 186,520 shares were traded during trading, a decline of 64% from the average daily volume of 521,723 shares. The stock had previously closed at $9.65.

Analysts Set New Price Targets

Separately, US Capital Advisors raised NET Power to a “strong-buy” rating in a report on Monday, October 28th.

NET Power Stock Performance

The stock has a 50-day simple moving average of $10.92 and a two-hundred day simple moving average of $9.21.

NET Power (NYSE:NPWR) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.17. During the same period in the previous year, the firm earned ($0.44) EPS. As a group, equities research analysts forecast that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity at NET Power

In other news, major shareholder 8 Rivers Capital, Llc sold 431,009 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $12.76, for a total value of $5,499,674.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash S. Patel sold 150,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $12.65, for a total transaction of $1,897,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 901,380 shares of company stock valued at $11,433,849. Insiders own 2.71% of the company’s stock.

Institutional Investors Weigh In On NET Power

Several institutional investors and hedge funds have recently bought and sold shares of NPWR. Dynamic Technology Lab Private Ltd purchased a new position in shares of NET Power during the third quarter valued at approximately $82,000. MetLife Investment Management LLC raised its holdings in NET Power by 129.1% in 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. Janney Montgomery Scott LLC bought a new position in NET Power in the 4th quarter valued at approximately $108,000. XTX Topco Ltd purchased a new stake in shares of NET Power during the second quarter valued at $133,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in NET Power in the 2nd quarter worth about $136,000. Hedge funds and other institutional investors own 53.62% of the company’s stock.

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.