NET Power (NYSE:NPWR) Shares Down 5.2% – What’s Next?

NET Power Inc. (NYSE:NPWR) traded down 5.2% during trading on Tuesday . The stock traded as low as $2.48 and last traded at $2.49. 772,687 shares changed hands during mid-day trading, a decline of 5% from the average session volume of 809,382 shares. The stock had previously closed at $2.62.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays cut shares of NET Power from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $3.00 to $2.00 in a research note on Wednesday, April 23rd. Citigroup upgraded shares of NET Power from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $14.00 to $6.00 in a report on Tuesday, March 11th.

NET Power Price Performance

The firm has a market cap of $531.24 million, a price-to-earnings ratio of -1.18 and a beta of 0.64. The business has a 50-day moving average of $1.99 and a 200-day moving average of $6.00.

NET Power (NYSE:NPWR) last posted its quarterly earnings results on Monday, May 12th. The company reported ($1.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.44). As a group, equities analysts anticipate that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On NET Power

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG raised its position 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 acquiring an additional 5,429 shares in the last quarter. Covestor Ltd bought a new position in shares of NET Power in the 4th quarter valued at about $43,000. Legacy Advisors LLC acquired a new position in shares of NET Power during the 1st quarter worth about $43,000. Janney Montgomery Scott LLC bought a new stake in shares of NET Power in the 4th quarter valued at about $108,000. Finally, National Bank of Canada FI raised its holdings in shares of NET Power by 2,727.0% in the 4th quarter. National Bank of Canada FI now owns 11,930 shares of the company’s stock valued at $126,000 after purchasing an additional 11,508 shares during the period. 53.62% of the stock is owned by institutional investors.

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.