NET Power (NYSE:NPWR) Shares Up 12.2% – Here’s What Happened

Shares of NET Power Inc. (NYSE:NPWR) shot up 12.2% during mid-day trading on Tuesday . The stock traded as high as $10.47 and last traded at $10.20. 118,039 shares traded hands during trading, a decline of 69% from the average session volume of 375,511 shares. The stock had previously closed at $9.09.

Analysts Set New Price Targets

NPWR has been the subject of several research reports. Citigroup reduced their price objective on 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 reduced their price objective on NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 14th. Finally, US Capital Advisors raised NET Power to a “strong-buy” rating in a research note on Monday, October 28th.

NET Power Stock Performance

The firm has a 50 day moving average price of $7.76 and a two-hundred day moving average price of $9.06.

NET Power (NYSE:NPWR) last issued its earnings results on Monday, August 12th. The company reported ($0.06) EPS for the quarter. The firm had revenue of $0.24 million during the quarter. On average, research analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current year.

Insider Transactions at NET Power

In other news, major shareholder Npeh, Llc sold 83,325 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $8.10, for a total value of $674,932.50. Following the completion of the sale, the insider now owns 416,675 shares of the company’s stock, valued at $3,375,067.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, major shareholder 8 Rivers Capital, Llc sold 80,122 shares of NET Power stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $7.02, for a total transaction of $562,456.44. Following the completion of the sale, the insider now owns 342,364 shares of the company’s stock, valued at approximately $2,403,395.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Npeh, Llc sold 83,325 shares of NET Power 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 sale, the insider now directly owns 416,675 shares of the company’s stock, valued at approximately $3,375,067.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,204,829 shares of company stock valued at $8,679,686 over the last quarter. Company insiders own 2.71% of the company’s stock.

Institutional Investors Weigh In On NET Power

A number of institutional investors have recently added to or reduced their stakes in the stock. Pekin Hardy Strauss Inc. boosted its holdings in NET Power by 5.4% during the second quarter. Pekin Hardy Strauss Inc. now owns 29,365 shares of the company’s stock valued at $289,000 after purchasing an additional 1,500 shares in the last quarter. ELCO Management Co. LLC boosted its holdings in shares of NET Power by 13.4% in the 2nd quarter. ELCO Management Co. LLC now owns 20,924 shares of the company’s stock worth $206,000 after acquiring an additional 2,474 shares in the last quarter. Williams Jones Wealth Management LLC. acquired a new position in shares of NET Power in the 1st quarter worth approximately $128,000. K2 Principal Fund L.P. acquired a new position in shares of NET Power in the 1st quarter worth approximately $148,000. Finally, XTX Topco Ltd acquired a new position in shares of NET Power in the 2nd quarter worth approximately $133,000. 53.62% of the stock is 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.