NET Power (NYSE:NPWR) Now Covered by Northland Securities

Equities research analysts at Northland Securities assumed coverage on shares of NET Power (NYSE:NPWR) in a research note issued to investors on Monday, Benzinga reports. The firm set an “outperform” rating and a $2.75 price target on the stock. Northland Securities’ price target would indicate a potential upside of 44.36% from the company’s current price.

Several other research analysts also recently commented on the company. Wall Street Zen downgraded NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. Weiss Ratings raised shares of NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.25.

NET Power Stock Performance

Shares of NYSE:NPWR opened at $1.91 on Monday. The company has a market cap of $428.36 million, a P/E ratio of -0.30 and a beta of 1.10. The stock’s 50-day moving average is $1.65 and its 200-day moving average is $1.75. NET Power has a 52-week low of $1.35 and a 52-week high of $5.20.

NET Power (NYSE:NPWR) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.84).

Insider Activity

In related news, major shareholder 8 Rivers Capital, Llc sold 507,100 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $1.95, for a total transaction of $988,845.00. Following the transaction, the insider owned 1,242,900 shares in the company, valued at $2,423,655. This represents a 28.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 2,005,858 shares of company stock valued at $3,460,668 over the last three months. Insiders own 2.06% of the company’s stock.

Institutional Trading of NET Power

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its holdings in NET Power by 190.0% during the 2nd quarter. Tidal Investments LLC now owns 1,546,562 shares of the company’s stock worth $2,583,000 after buying an additional 1,013,309 shares in the last quarter. SIR Capital Management L.P. bought a new stake in NET Power during the 2nd quarter worth about $183,000. Bank of New York Mellon Corp bought a new position in shares of NET Power in the 2nd quarter valued at about $140,000. Bank of America Corp DE raised its stake in shares of NET Power by 40.1% during the first quarter. Bank of America Corp DE now owns 35,083 shares of the company’s stock worth $55,000 after buying an additional 10,034 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in NET Power by 644.0% in the first quarter. Renaissance Technologies LLC now owns 703,800 shares of the company’s stock valued at $1,098,000 after acquiring an additional 609,200 shares during the last quarter. Institutional investors and hedge funds own 53.62% of the company’s stock.

NET Power Company Profile

NET Power Inc (NYSE: NPWR) is a clean-energy technology company focused on producing electricity from natural gas while capturing carbon dioxide emissions. Its technology is designed to generate reliable power with substantially reduced atmospheric emissions compared with conventional natural-gas power plants.

The company’s principal technology is the Allam-Fetvedt Cycle, a process that uses high-pressure carbon dioxide as the working fluid in an oxy-combustion power cycle. The process is intended to produce electricity while capturing carbon dioxide in a concentrated form for transportation, storage, or potential industrial use.