NET Power (NYSE:NPWR) Sees Large Volume Increase

NET Power Inc. (NYSE:NPWR) shares saw unusually-strong trading volume on Thursday . Approximately 469,504 shares traded hands during trading, an increase of 34% from the previous session’s volume of 349,809 shares.The stock last traded at $7.10 and had previously closed at $6.72.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup cut their target price 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 objective on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 14th.

NET Power Trading Up 5.1 %

The firm has a 50-day moving average of $8.51 and a 200 day moving average of $9.69.

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

Insider Buying and Selling

In other news, major shareholder Npeh, Llc sold 66,825 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $7.88, for a total value of $526,581.00. Following the sale, the insider now owns 189,329 shares in the company, valued at approximately $1,491,912.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 269,419 shares of company stock worth $2,080,519. Insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NPWR. Williams Jones Wealth Management LLC. acquired a new stake in NET Power in the first quarter worth $128,000. K2 Principal Fund L.P. bought a new stake in NET Power in the 1st quarter valued at about $148,000. XTX Topco Ltd acquired a new position in NET Power during the 2nd quarter valued at about $133,000. B. Riley Wealth Advisors Inc. bought a new position in NET Power in the 2nd quarter worth about $136,000. Finally, Neuberger Berman Group LLC acquired a new stake in shares of NET Power in the fourth quarter valued at approximately $163,000. 53.62% of the stock is owned by institutional investors and hedge funds.

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.