NET Power (NYSE:NPWR) Shares Gap Up – Here’s Why

NET Power Inc. (NYSE:NPWR)’s share price gapped up before the market opened on Friday . The stock had previously closed at $12.99, but opened at $13.40. NET Power shares last traded at $13.72, with a volume of 247,980 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NPWR. US Capital Advisors upgraded shares of NET Power to a “strong-buy” rating in a research report on Monday, October 28th. Barclays cut their target price 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, Citigroup decreased their price target on NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th.

NET Power Trading Up 2.1 %

The firm’s fifty day moving average is $9.15 and its 200-day moving average is $9.24.

NET Power (NYSE:NPWR) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.17. During the same period in the prior year, the firm earned ($0.44) earnings per share. On average, research analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity at NET Power

In related news, CFO Akash S. Patel sold 150,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $12.65, for a total transaction of $1,897,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder 8 Rivers Capital, Llc sold 431,009 shares of NET Power stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $12.76, for a total value of $5,499,674.84. The disclosure for this sale can be found here. Insiders sold a total of 2,106,209 shares of company stock worth $20,113,535 in the last quarter. 2.71% of the stock is owned by insiders.

Institutional Trading of NET Power

Several institutional investors have recently added to or reduced their stakes in NPWR. Dynamic Technology Lab Private Ltd acquired a new position in shares of NET Power in the 3rd quarter worth approximately $82,000. MetLife Investment Management LLC raised its stake in NET Power by 129.1% during the third quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock worth $91,000 after buying an additional 7,281 shares during the last quarter. XTX Topco Ltd acquired a new position in NET Power in the second quarter valued at $133,000. B. Riley Wealth Advisors Inc. bought a new stake in NET Power during the second quarter valued at $136,000. Finally, Quest Partners LLC acquired a new stake in NET Power during the 3rd quarter worth about $153,000. 53.62% of the stock is currently owned by institutional investors.

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.