CenterBook Partners LP Has $3.76 Million Position in NET Power Inc. $NPWR

CenterBook Partners LP raised its holdings in shares of NET Power Inc. (NYSE:NPWR) by 78.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,248,348 shares of the company’s stock after purchasing an additional 550,270 shares during the quarter. CenterBook Partners LP owned 0.57% of NET Power worth $3,758,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. grew its holdings in shares of 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 buying an additional 400,000 shares during the last quarter. Caption Management LLC lifted its position in NET Power by 619.8% in the 2nd quarter. Caption Management LLC now owns 401,899 shares of the company’s stock valued at $993,000 after acquiring an additional 346,068 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in NET Power by 1,226.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,929 shares of the company’s stock valued at $641,000 after purchasing an additional 196,882 shares during the last quarter. Geode Capital Management LLC increased its holdings in 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 in the last quarter. Finally, Federated Hermes Inc. bought a new stake in NET Power during the 2nd quarter worth approximately $151,000. 53.62% of the stock is owned by institutional investors.

NET Power Trading Down 2.1%

Shares of NET Power stock opened at $2.08 on Thursday. The business’s fifty day simple moving average is $2.38 and its 200 day simple moving average is $2.76. NET Power Inc. has a 12 month low of $1.48 and a 12 month high of $8.27. The firm has a market capitalization of $460.94 million, a P/E ratio of -0.27 and a beta of 0.82.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a report on Thursday, January 22nd. Citigroup dropped their price objective on NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Finally, 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. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.50.

Insider Activity at NET Power

In related news, major shareholder 8 Rivers Capital, Llc sold 75,000 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $2.07, for a total value of $155,250.00. Following the transaction, the insider directly owned 775,000 shares of the company’s stock, valued at approximately $1,604,250. The trade was a 8.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 2,207,163 shares of company stock worth $5,431,964. Insiders own 2.10% 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.