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

NET Power Inc. (NYSE:NPWR) shares traded up 12.2% during trading on Tuesday . The company 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.

Wall Street Analyst Weigh In

NPWR has been the topic of several research reports. Barclays dropped their price objective on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 14th. US Capital Advisors raised shares of NET Power to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Citigroup reduced their target price on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th.

NET Power Price Performance

The business’s fifty day simple moving average is $7.76 and its 200-day simple moving average is $9.06.

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 company had revenue of $0.24 million for the quarter. On average, equities analysts expect that NET Power Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 517,618 shares of NET Power stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $7.12, for a total value of $3,685,440.16. Following the sale, the insider now owns 199,369 shares of the company’s stock, valued at $1,419,507.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NET Power news, major shareholder Npeh, Llc sold 83,325 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $8.10, for a total transaction of $674,932.50. Following the completion of the sale, the insider now owns 416,675 shares in the company, valued at $3,375,067.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 8 Rivers Capital, Llc sold 517,618 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $7.12, for a total value of $3,685,440.16. Following the completion of the sale, the insider now directly owns 199,369 shares of the company’s stock, valued at approximately $1,419,507.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, 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 Inflows and Outflows

Several large investors have recently made changes to their positions in NPWR. Pekin Hardy Strauss Inc. boosted its position in NET Power by 5.4% during the second quarter. Pekin Hardy Strauss Inc. now owns 29,365 shares of the company’s stock worth $289,000 after acquiring an additional 1,500 shares during the last quarter. ELCO Management Co. LLC grew its position in NET Power by 13.4% in the second 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 during the period. Williams Jones Wealth Management LLC. acquired a new stake in shares of NET Power during the 1st quarter worth about $128,000. K2 Principal Fund L.P. acquired a new stake in shares of NET Power during the first quarter valued at about $148,000. Finally, XTX Topco Ltd acquired a new stake in NET Power in the 2nd quarter valued at 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.