NET Power Inc. (NYSE:NPWR) Stock Now Rated “Hold” by Wall Street Brokerages

NET Power Inc. (NYSE:NPWR) has received an average recommendation of “Hold” from the five research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $3.25.

NPWR has been the topic of a number of analyst reports. Zacks Research raised NET Power to a “hold” rating in a research report on Tuesday, September 15th. Weiss Ratings cut NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 22nd. Wall Street Zen downgraded NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. Finally, Northland Securities initiated coverage on NET Power in a research report on Monday, September 14th. They set an “outperform” rating and a $2.75 price objective for the company.

Insider Transactions at NET Power

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 507,100 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $1.95, for a total transaction of $988,845.00. Following the completion of the transaction, the insider owned 1,242,900 shares in the company, valued at $2,423,655. The trade was a 28.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 1,340,400 shares of company stock valued at $2,470,154 in the last ninety days. 2.06% of the stock is owned by insiders.

Institutional Investors Weigh In On NET Power

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC lifted its position in shares of 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 purchasing an additional 1,013,309 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of NET Power by 644.0% during the first 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. MRA Advisory Group purchased a new position in NET Power in the third quarter valued at $320,000. Janney Montgomery Scott LLC increased its holdings in NET Power by 10.2% in the first quarter. Janney Montgomery Scott LLC now owns 133,000 shares of the company’s stock valued at $207,000 after buying an additional 12,351 shares during the last quarter. Finally, SIR Capital Management L.P. purchased a new position in NET Power in the second quarter valued at $183,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.

NET Power Trading Down 7.6%

NET Power stock opened at $0.77 on Friday. The firm has a market capitalization of $172.02 million, a P/E ratio of -0.12 and a beta of 1.25. NET Power has a twelve month low of $0.76 and a twelve month high of $3.63. The stock’s fifty day simple moving average is $1.40 and its 200-day simple moving average is $1.71.

NET Power (NYSE:NPWR) last released its earnings results on Thursday, August 13th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.84). Sell-side analysts predict that NET Power will post -1.14 earnings per share for the current year.

About NET Power

NET Power Inc is a clean-energy technology company developing power-generation systems designed to produce electricity while capturing carbon dioxide emissions. Its proprietary Allam-Fetvedt Cycle uses high-pressure carbon dioxide as the working fluid in a closed-loop process, enabling the company’s systems to generate power from natural gas with carbon capture integrated into the plant design.

The company’s technology is intended to produce electricity, pipeline-quality carbon dioxide and water, while avoiding the conventional emissions associated with fossil-fuel power generation.