Investors Purchase High Volume of Call Options on NET Power (NYSE:NPWR)

NET Power Inc. (NYSE:NPWR) was the target of unusually large options trading activity on Thursday. Stock traders bought 12,479 call options on the company. This is an increase of 359% compared to the typical daily volume of 2,719 call options.

Institutional Investors Weigh In On NET Power

A number of large investors have recently bought and sold shares of NPWR. Deutsche Bank AG grew its stake in NET Power by 63.0% during the first quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock worth $37,000 after buying an additional 5,429 shares in the last quarter. Covestor Ltd bought a new position in shares of NET Power in the fourth quarter worth about $43,000. Legacy Advisors LLC bought a new position in shares of NET Power in the first quarter worth about $43,000. National Bank of Canada FI lifted its holdings in shares of NET Power by 2,727.0% in the fourth quarter. National Bank of Canada FI now owns 11,930 shares of the company’s stock worth $126,000 after acquiring an additional 11,508 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of NET Power in the first quarter worth about $126,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.

NET Power Stock Up 24.8%

Shares of NET Power stock opened at $3.17 on Friday. The company has a market capitalization of $694.45 million, a price-to-earnings ratio of -1.54 and a beta of 0.70. NET Power has a 12-month low of $1.48 and a 12-month high of $14.28. The firm’s 50-day moving average price is $2.10 and its two-hundred day moving average price is $4.95.

NET Power (NYSE:NPWR) last announced its quarterly earnings data on Monday, May 12th. The company reported ($1.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.44). On average, sell-side analysts expect that NET Power will post -0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

NPWR has been the topic of a number of recent research reports. Citigroup raised shares of NET Power from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $14.00 to $6.00 in a research report on Tuesday, March 11th. Barclays lowered shares of NET Power from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $3.00 to $2.00 in a research report on Wednesday, April 23rd.

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.