Raymond James Financial Inc. Purchases New Position in NET Power Inc. (NYSE:NPWR)

Raymond James Financial Inc. acquired a new position in shares of NET Power Inc. (NYSE:NPWR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 119,397 shares of the company’s stock, valued at approximately $1,264,000.

Several other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of NET Power by 21.7% in the 3rd quarter. Geode Capital Management LLC now owns 646,584 shares of the company’s stock valued at $4,535,000 after acquiring an additional 115,189 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of NET Power by 24.5% in 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 during the last quarter. State Street Corp boosted its stake 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 worth $2,589,000 after buying an additional 38,910 shares during the period. Barclays PLC grew its holdings in shares of NET Power by 276.7% during the third quarter. Barclays PLC now owns 27,883 shares of the company’s stock worth $196,000 after buying an additional 20,481 shares during the last quarter. Finally, Kapstone Financial Advisors LLC purchased a new position in shares of NET Power during the fourth quarter worth about $184,000. Hedge funds and other institutional investors own 53.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barclays decreased their price objective on NET Power from $11.00 to $3.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Citigroup upgraded NET Power from a “neutral” rating to a “buy” rating and cut their price target for the stock from $14.00 to $6.00 in a research note on Tuesday, March 11th.

NET Power Stock Down 3.5 %

Shares of NYSE:NPWR opened at $2.50 on Thursday. NET Power Inc. has a fifty-two week low of $2.28 and a fifty-two week high of $14.28. The firm’s 50-day simple moving average is $6.13 and its 200-day simple moving average is $8.33. The company has a market cap of $544.07 million, a price-to-earnings ratio of -3.73 and a beta of 0.07.

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.