NET Power (NYSE:NPWR) Stock Price Up 5.2% – Here’s Why

Shares of NET Power Inc. (NYSE:NPWR) traded up 5.2% during mid-day trading on Monday . The stock traded as high as $3.42 and last traded at $3.42. 234,406 shares were traded during trading, a decline of 60% from the average session volume of 581,511 shares. The stock had previously closed at $3.25.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup upgraded NET Power from a “neutral” rating to a “buy” rating and lowered their price target for the company from $14.00 to $6.00 in a research report on Tuesday, March 11th. Barclays lowered their price target on NET Power from $11.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th.

NET Power Stock Down 4.5 %

The stock has a fifty day moving average of $7.58 and a 200-day moving average of $8.71.

Hedge Funds Weigh In On NET Power

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of NET Power by 21.7% during the third quarter. Geode Capital Management LLC now owns 646,584 shares of the company’s stock valued at $4,535,000 after buying an additional 115,189 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of NET Power during the third quarter valued at $394,000. Charles Schwab Investment Management Inc. grew its holdings in shares of NET Power by 24.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 244,852 shares of the company’s stock valued at $1,716,000 after buying an additional 48,165 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of NET Power during the fourth quarter valued at $108,000. Finally, State Street Corp grew its holdings in shares of NET Power by 11.8% during the third quarter. State Street Corp now owns 369,281 shares of the company’s stock valued at $2,589,000 after buying an additional 38,910 shares in the last quarter. 53.62% of the stock is currently owned by institutional investors and hedge funds.

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.