NET Power (NYSE:NPWR) PT Lowered to $8.00 at Citigroup

NET Power (NYSE:NPWR) had its price objective lowered by Citigroup from $11.00 to $8.00 in a research note issued to investors on Thursday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Separately, 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 Stock Performance

NYSE NPWR opened at $7.19 on Thursday. The business has a 50 day moving average price of $8.64 and a two-hundred day moving average price of $9.71. NET Power has a fifty-two week low of $6.57 and a fifty-two week high of $17.62.

NET Power (NYSE:NPWR) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.06) earnings per share for the quarter. The firm had revenue of $0.24 million for the quarter. As a group, sell-side analysts forecast that NET Power will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Npeh, Llc sold 21,155 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $7.28, for a total transaction of $154,008.40. Following the sale, the insider now directly owns 107,852 shares in the company, valued at approximately $785,162.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 231,327 shares of company stock valued at $1,811,689 over the last quarter. Insiders own 2.71% of the company’s stock.

Institutional Trading of NET Power

A number of large investors have recently modified their holdings of the company. Williams Jones Wealth Management LLC. acquired a new stake in shares of NET Power in the first quarter valued at approximately $128,000. K2 Principal Fund L.P. bought a new stake in NET Power during the 1st quarter valued at $148,000. XTX Topco Ltd acquired a new position in NET Power during the 2nd quarter worth $133,000. B. Riley Wealth Advisors Inc. bought a new position in shares of NET Power in the second quarter worth $136,000. Finally, Neuberger Berman Group LLC bought a new stake in shares of NET Power during the fourth quarter valued at about $163,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

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.