NET Power (NYSE:NPWR) Shares Down 2.4% – Here’s Why

NET Power Inc. (NYSE:NPWR)’s stock price fell 2.4% during trading on Tuesday . The stock traded as low as $10.72 and last traded at $10.90. 95,039 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 434,317 shares. The stock had previously closed at $11.17.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. US Capital Advisors raised shares of NET Power to a “strong-buy” rating in a research note on Monday, October 28th. Citigroup cut their price objective on NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th.

NET Power Trading Down 5.2 %

The stock’s fifty day moving average price is $10.72 and its 200 day moving average price is $9.23.

NET Power (NYSE:NPWR) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates 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 forecast that NET Power Inc. will post -0.4 earnings per share for the current year.

Insider Transactions at NET Power

In related news, CFO Akash S. Patel sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $12.65, for a total value of $1,897,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 8 Rivers Capital, Llc sold 431,009 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $12.76, for a total value of $5,499,674.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,670,960 shares of company stock valued at $16,867,343. Insiders own 2.71% of the company’s stock.

Institutional Investors Weigh In On NET Power

Several large investors have recently bought and sold shares of NPWR. Encompass Capital Advisors LLC bought a new position in NET Power during the 2nd quarter valued at about $20,537,000. SIR Capital Management L.P. bought a new position in NET Power during the second quarter valued at approximately $971,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in NET Power in the third quarter worth approximately $394,000. S&CO Inc. grew its position in NET Power by 25.3% in the 3rd quarter. S&CO Inc. now owns 251,905 shares of the company’s stock worth $1,765,000 after purchasing an additional 50,805 shares during the period. Finally, Thomist Capital Management LP purchased a new stake in NET Power during the 2nd quarter valued at $1,073,000. 53.62% of the stock is currently 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.