NET Power (NYSE:NPWR) Sees Strong Trading Volume – Still a Buy?

Shares of NET Power Inc. (NYSE:NPWR) saw unusually-high trading volume on Friday . Approximately 448,565 shares were traded during mid-day trading, an increase of 10% from the previous session’s volume of 406,527 shares.The stock last traded at $12.97 and had previously closed at $12.55.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays decreased their target price on NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 14th. Citigroup dropped their target price on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, US Capital Advisors upgraded shares of NET Power to a “strong-buy” rating in a research note on Monday, October 28th.

NET Power Stock Up 0.7 %

The stock has a 50-day simple moving average of $8.67 and a 200 day simple moving average of $9.19.

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

Insider Activity

In other news, major shareholder 8 Rivers Capital, Llc sold 8,871 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $7.01, for a total value of $62,185.71. Following the sale, the insider now owns 960,078 shares in the company, valued at approximately $6,730,146.78. The trade was a 0.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Npeh, Llc sold 83,325 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $8.10, for a total transaction of $674,932.50. Following the sale, the insider now owns 416,675 shares of the company’s stock, valued at $3,375,067.50. This trade represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,525,200 shares of company stock worth $12,716,360. Corporate insiders own 2.71% of the company’s stock.

Institutional Trading of NET Power

Several large investors have recently added to or reduced their stakes in NPWR. Dynamic Technology Lab Private Ltd bought a new position in shares of NET Power in the third quarter valued at approximately $82,000. MetLife Investment Management LLC raised its position in NET Power by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock valued at $91,000 after purchasing an additional 7,281 shares during the last quarter. XTX Topco Ltd acquired a new position in NET Power in the second quarter worth $133,000. B. Riley Wealth Advisors Inc. acquired a new position in NET Power in the second quarter worth $136,000. Finally, ELCO Management Co. LLC grew its holdings in shares of 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 purchasing an additional 2,474 shares during the last quarter. 53.62% of the stock is owned by institutional investors.

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.