Connor Clark & Lunn Investment Management Ltd. Takes $394,000 Position in NET Power Inc. (NYSE:NPWR)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of NET Power Inc. (NYSE:NPWR) during the 3rd quarter, Holdings Channel reports. The fund acquired 56,136 shares of the company’s stock, valued at approximately $394,000.

A number of other institutional investors have also recently bought and sold shares of the company. Encompass Capital Advisors LLC acquired a new position in NET Power in the second quarter valued at about $20,537,000. Vanguard Group Inc. lifted its holdings in shares of NET Power by 65.1% during the 1st quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock valued at $27,617,000 after purchasing an additional 956,134 shares in the last quarter. Marshall Wace LLP grew its position in shares of NET Power by 226.9% in the 2nd quarter. Marshall Wace LLP now owns 583,688 shares of the company’s stock valued at $5,738,000 after purchasing an additional 405,128 shares during the period. Thomist Capital Management LP bought a new stake in NET Power during the 2nd quarter worth approximately $1,073,000. Finally, SIR Capital Management L.P. acquired a new stake in NET Power during the 2nd quarter worth approximately $971,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Npeh, Llc sold 120,500 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $6.92, for a total value of $833,860.00. Following the completion of the transaction, the insider now directly owns 716,987 shares of the company’s stock, valued at approximately $4,961,550.04. This trade represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 8 Rivers Capital, Llc sold 80,122 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $7.02, for a total transaction of $562,456.44. Following the transaction, the insider now owns 342,364 shares in the company, valued at approximately $2,403,395.28. The trade was a 18.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,106,209 shares of company stock valued at $20,113,535 in the last three months. 2.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NPWR has been the subject of several research analyst reports. Barclays reduced their price target on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, August 14th. Citigroup reduced 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. Finally, US Capital Advisors raised NET Power to a “strong-buy” rating in a research note on Monday, October 28th.

NET Power Stock Down 1.4 %

NYSE:NPWR opened at $12.81 on Friday. NET Power Inc. has a twelve month low of $6.57 and a twelve month high of $14.28. The business has a 50 day moving average price of $9.26 and a two-hundred day moving average price of $9.24.

NET Power (NYSE:NPWR) last announced 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 quarter last year, the firm posted ($0.44) EPS. On average, research analysts expect that NET Power Inc. will post -0.4 EPS for the current year.

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.