NET Power (NYSE:NPWR) Shares Down 4.1% – Here’s What Happened

Shares of NET Power Inc. (NYSE:NPWR) fell 4.1% during mid-day trading on Tuesday . The stock traded as low as $8.47 and last traded at $8.55. 74,160 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 363,151 shares. The stock had previously closed at $8.92.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Citigroup dropped their target price on NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Barclays lowered their price objective 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

The stock has a 50-day moving average price of $7.55 and a 200 day moving average price of $9.21.

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

Insider Buying and Selling

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 80,122 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $7.02, for a total transaction of $562,456.44. Following the transaction, the insider now directly owns 342,364 shares of the company’s stock, valued at $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 SEC, which is accessible through this hyperlink. In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 80,122 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 342,364 shares of the company’s stock, valued at $2,403,395.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Npeh, Llc sold 120,500 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $6.92, for a total value of $833,860.00. Following the completion of the transaction, the insider now owns 716,987 shares in the company, valued at approximately $4,961,550.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,204,829 shares of company stock valued at $8,679,686. 2.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NET Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in NPWR. Pekin Hardy Strauss Inc. lifted its stake in shares of NET Power by 5.4% in the second quarter. Pekin Hardy Strauss Inc. now owns 29,365 shares of the company’s stock worth $289,000 after buying an additional 1,500 shares in the last quarter. ELCO Management Co. LLC lifted its stake in 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 purchasing an additional 2,474 shares in the last quarter. Williams Jones Wealth Management LLC. purchased a new position in NET Power in the 1st quarter worth approximately $128,000. K2 Principal Fund L.P. acquired a new position in shares of NET Power during the 1st quarter worth approximately $148,000. Finally, XTX Topco Ltd purchased a new stake in shares of NET Power in the second quarter valued at approximately $133,000. 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.