NET Power Inc. (NYSE:NPWR – Get Free Report)’s stock price rose 5.5% on Wednesday . The company traded as high as $9.70 and last traded at $9.24. Approximately 165,592 shares were traded during trading, a decline of 55% from the average daily volume of 364,657 shares. The stock had previously closed at $8.76.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on NPWR shares. Citigroup lowered their price objective 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. Barclays dropped their price objective on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 14th.
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NET Power Stock Performance
NET Power (NYSE:NPWR – Get Free Report) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.06) EPS for the quarter. The firm had revenue of $0.24 million for the quarter. On average, analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current year.
Insiders Place Their Bets
In other NET Power news, major shareholder Npeh, Llc sold 83,325 shares of NET Power stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $8.10, for a total transaction of $674,932.50. Following the sale, the insider now owns 416,675 shares of the company’s stock, valued at $3,375,067.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 26,926 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $7.00, for a total value of $188,482.00. Following the completion of the sale, the insider now directly owns 73,074 shares of the company’s stock, valued at approximately $511,518. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Npeh, Llc sold 83,325 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $8.10, for a total value of $674,932.50. Following the completion of the transaction, the insider now directly owns 416,675 shares in the company, valued at $3,375,067.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,204,829 shares of company stock worth $8,679,686. Insiders own 2.71% of the company’s stock.
Hedge Funds Weigh In On NET Power
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pekin Hardy Strauss Inc. grew its position in NET Power by 5.4% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 29,365 shares of the company’s stock worth $289,000 after purchasing an additional 1,500 shares in the last quarter. ELCO Management Co. LLC grew its holdings in shares of NET Power by 13.4% during the second quarter. ELCO Management Co. LLC now owns 20,924 shares of the company’s stock valued at $206,000 after buying an additional 2,474 shares in the last quarter. Williams Jones Wealth Management LLC. purchased a new position in shares of NET Power during the first quarter valued at $128,000. K2 Principal Fund L.P. acquired a new position in NET Power during the first quarter valued at $148,000. Finally, XTX Topco Ltd purchased a new stake in NET Power in the 2nd quarter worth about $133,000. Institutional investors and hedge funds own 53.62% of the company’s stock.
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.
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