State Street Corp Purchases 38,910 Shares of NET Power Inc. (NYSE:NPWR)

State Street Corp increased its position in shares of NET Power Inc. (NYSE:NPWR) by 11.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 369,281 shares of the company’s stock after buying an additional 38,910 shares during the period. State Street Corp’s holdings in NET Power were worth $2,589,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NPWR. HITE Hedge Asset Management LLC lifted its position in NET Power by 2.6% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 387,624 shares of the company’s stock worth $2,717,000 after acquiring an additional 9,987 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of 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 purchasing an additional 7,281 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of NET Power during the 3rd quarter worth about $82,000. Charles Schwab Investment Management Inc. boosted its stake in NET Power by 24.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 244,852 shares of the company’s stock valued at $1,716,000 after purchasing an additional 48,165 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in NET Power in the 3rd quarter valued at approximately $394,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.

NET Power Stock Performance

Shares of NYSE NPWR opened at $10.59 on Wednesday. NET Power Inc. has a one year low of $6.57 and a one year high of $14.28. The business has a fifty day simple moving average of $10.69 and a 200 day simple moving average of $9.22.

NET Power (NYSE:NPWR) last issued its earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.17. During the same quarter last year, the business earned ($0.44) EPS. Analysts predict that NET Power Inc. will post -0.4 earnings per share for the current year.

Insider Transactions at NET Power

In other news, CFO Akash S. Patel sold 150,000 shares of the business’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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 sale, the insider now directly owns 716,987 shares of the company’s stock, valued at $4,961,550.04. This represents a 14.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,681,393 shares of company stock valued at $16,940,374. Corporate insiders own 2.71% of the company’s stock.

Wall Street Analyst Weigh In

NPWR has been the subject of a number of research analyst reports. Citigroup cut their price target on 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 upgraded shares of NET Power to a “strong-buy” rating in a research report on Monday, October 28th.

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.