NET Power (NYSE:NPWR) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

NET Power (NYSE:NPWR) issued its earnings results on Thursday. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03), FiscalAI reports.

NET Power Trading Down 7.6%

NPWR stock traded down $0.06 on Friday, hitting $0.70. The company’s stock had a trading volume of 420,480 shares, compared to its average volume of 756,527. The firm has a 50 day moving average of $1.30 and a two-hundred day moving average of $1.67. NET Power has a 1 year low of $0.68 and a 1 year high of $3.02. The stock has a market cap of $157.85 million, a price-to-earnings ratio of -0.11 and a beta of 1.25.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NPWR. Wall Street Zen cut NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Northland Securities began coverage on shares of NET Power in a report on Monday, September 14th. They set an “outperform” rating and a $2.75 price objective on the stock. Weiss Ratings downgraded shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 22nd. Finally, Zacks Research upgraded shares of NET Power to a “hold” rating in a report on Tuesday, September 15th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, NET Power has a consensus rating of “Hold” and a consensus price target of $3.25.

Insider Activity at NET Power

In other news, major shareholder 8 Rivers Capital, Llc sold 150,000 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $1.84, for a total transaction of $276,000.00. Following the completion of the sale, the insider owned 750,000 shares in the company, valued at approximately $1,380,000. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 492,900 shares of company stock valued at $933,939 over the last three months. 2.06% of the stock is currently owned by corporate insiders.

NET Power Company Profile

NET Power, Inc. develops power-generation technology designed to produce electricity from natural gas while capturing carbon dioxide. Its system, known as the NET Power Cycle, burns natural gas with oxygen in a high-pressure carbon dioxide working fluid, generating electricity and a concentrated stream of carbon dioxide for capture and potential transport, storage or use. The company’s activities include developing and commercializing its technology and advancing projects for its deployment. Rather than operating as a conventional utility, NET Power focuses on enabling power plants that use its system.