NET Power (NYSE:NPWR) Shares Gap Up – Here’s What Happened

NET Power Inc. (NYSE:NPWR)’s share price gapped up prior to trading on Friday . The stock had previously closed at $12.99, but opened at $13.40. NET Power shares last traded at $13.72, with a volume of 247,980 shares traded.

Wall Street Analysts Forecast Growth

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

NET Power Trading Down 1.4 %

The firm’s 50-day moving average price is $9.26 and its 200 day moving average price is $9.24.

NET Power (NYSE:NPWR) last posted its earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.17. During the same quarter last year, the business earned ($0.44) EPS. On average, research analysts expect that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 transaction of $5,499,674.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Akash S. Patel sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $12.65, for a total value of $1,897,500.00. The disclosure for this sale can be found here. Insiders 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.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in NET Power by 65.1% in the 1st quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock valued at $27,617,000 after acquiring an additional 956,134 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in NET Power during the second quarter valued at approximately $20,537,000. Geode Capital Management LLC boosted its holdings in NET Power by 21.7% during the third quarter. Geode Capital Management LLC now owns 646,584 shares of the company’s stock worth $4,535,000 after buying an additional 115,189 shares in the last quarter. Marshall Wace LLP grew its position in NET Power by 226.9% in the second quarter. Marshall Wace LLP now owns 583,688 shares of the company’s stock worth $5,738,000 after buying an additional 405,128 shares during the last quarter. Finally, Khrom Capital Management LLC increased its holdings in shares of NET Power by 9.6% in the second quarter. Khrom Capital Management LLC now owns 440,596 shares of the company’s stock valued at $4,331,000 after buying an additional 38,500 shares in the last quarter. 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.