NET Power (NYSE:NPWR) Shares Up 7.4% – What’s Next?

Shares of NET Power Inc. (NYSE:NPWR) rose 7.4% on Friday . The company traded as high as $2.67 and last traded at $2.6950. Approximately 376,226 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 743,938 shares. The stock had previously closed at $2.51.

Analysts Set New Price Targets

Several brokerages recently issued reports on NPWR. Weiss Ratings reiterated a “sell (d-)” rating on shares of NET Power in a report on Wednesday, October 8th. Barclays upgraded shares of NET Power from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $2.00 to $3.00 in a research note on Friday, November 14th. Finally, Citigroup dropped their price target on shares of NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.50.

NET Power Stock Up 4.4%

The firm has a market cap of $582.01 million, a P/E ratio of -0.34 and a beta of 0.81. The firm’s 50-day simple moving average is $2.64 and its 200 day simple moving average is $2.88.

NET Power (NYSE:NPWR) last issued its quarterly earnings results on Thursday, November 13th. The company reported $5.84 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $6.00. As a group, analysts forecast that NET Power Inc. will post -0.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder 8 Rivers Capital, Llc sold 230,000 shares of the business’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $2.63, for a total value of $604,900.00. Following the sale, the insider directly owned 1,550,000 shares in the company, valued at approximately $4,076,500. The trade was a 12.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 4,096,516 shares of company stock valued at $13,157,451. Company insiders own 2.10% of the company’s stock.

Institutional Trading of NET Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC bought a new position in NET Power in the 2nd quarter worth about $25,000. Invesco Ltd. purchased a new stake in shares of NET Power in the second quarter worth about $25,000. Sei Investments Co. bought a new position in shares of NET Power in the second quarter valued at approximately $32,000. Quantbot Technologies LP purchased a new position in NET Power during the third quarter valued at approximately $39,000. Finally, JPMorgan Chase & Co. increased its holdings in NET Power by 48.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock worth $40,000 after acquiring an additional 5,255 shares during the period. 53.62% of the stock is currently owned by institutional investors.

About NET Power

NET Power, Inc is an energy technology company focused on developing and commercializing power generation plants that burn natural gas and other fuels with near-zero carbon emissions. The company’s core innovation is the proprietary Allam-Fetvedt Cycle, a supercritical carbon dioxide power cycle that captures all carbon dioxide produced during combustion without the need for separate carbon capture systems. By integrating gas combustion, heat exchange and carbon dioxide separation into a single closed-loop process, NET Power aims to deliver baseload power with efficiencies and emissions profiles competitive with conventional and renewable generation sources.

Since demonstrating its first full-scale Allam-Cycle facility in La Porte, Texas, NET Power has moved from pilot operation toward commercial deployment.