Wall Street Zen Downgrades NET Power (NYSE:NPWR) to Strong Sell

NET Power (NYSE:NPWR) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a report released on Saturday.

Separately, Weiss Ratings cut shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.50.

NET Power Stock Performance

NYSE:NPWR opened at $1.55 on Friday. The company has a market cap of $348.97 million, a PE ratio of -0.26 and a beta of 1.06. NET Power has a 52-week low of $1.45 and a 52-week high of $5.20. The stock has a 50-day simple moving average of $1.80 and a 200 day simple moving average of $1.95.

NET Power (NYSE:NPWR) last announced its earnings results on Monday, May 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05).

Insider Activity at NET Power

In other news, major shareholder 8 Rivers Capital, Llc sold 400,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $2.44, for a total value of $976,000.00. Following the completion of the transaction, the insider owned 3,000,000 shares in the company, valued at $7,320,000. This trade represents a 11.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.06% of the stock is currently owned by corporate insiders.

Institutional Trading of NET Power

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. boosted its position in NET Power by 16.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock valued at $7,015,000 after purchasing an additional 400,000 shares during the last quarter. CenterBook Partners LP grew its stake in NET Power by 48.0% in the fourth quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock valued at $4,214,000 after purchasing an additional 599,725 shares in the last quarter. Geode Capital Management LLC increased its position in shares of NET Power by 21.4% during the 2nd quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock worth $2,078,000 after purchasing an additional 148,307 shares during the last quarter. Two Sigma Investments LP increased its position in shares of NET Power by 36.7% during the 3rd quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock worth $2,474,000 after purchasing an additional 220,831 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of NET Power by 644.0% during the 1st quarter. Renaissance Technologies LLC now owns 703,800 shares of the company’s stock worth $1,098,000 after purchasing an additional 609,200 shares in the last quarter. Institutional investors and hedge funds own 53.62% of the company’s stock.

NET Power Company Profile

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.