NET Power (NYSE:NPWR) Announces Earnings Results

NET Power (NYSE:NPWR) released its quarterly earnings results on Monday. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.11), Zacks reports.

NET Power Price Performance

Shares of NET Power stock traded up $0.02 during trading on Tuesday, reaching $1.96. 289,446 shares of the stock traded hands, compared to its average volume of 819,781. The business has a fifty day simple moving average of $2.29 and a two-hundred day simple moving average of $2.71. NET Power has a 52-week low of $1.48 and a 52-week high of $5.20. The company has a market capitalization of $434.28 million, a price-to-earnings ratio of -0.25 and a beta of 0.84.

Analyst Ratings Changes

Several research firms have commented on NPWR. Weiss Ratings reissued a “sell (d-)” rating on shares of NET Power in a report on Thursday, January 22nd. Citigroup dropped their price target 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 raised shares of NET Power from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $2.00 to $3.00 in a report on Friday, November 14th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.50.

Insider Activity at NET Power

In related news, major shareholder 8 Rivers Capital, Llc sold 230,000 shares of the business’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $2.63, for a total transaction of $604,900.00. Following the completion of the transaction, the insider owned 1,550,000 shares in the company, valued at $4,076,500. The trade was a 12.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 2,015,000 shares of company stock worth $4,575,605. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NET Power

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in NET Power by 48.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock worth $40,000 after purchasing an additional 5,255 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of NET Power by 44.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company’s stock valued at $46,000 after purchasing an additional 5,739 shares during the period. Barclays PLC boosted its holdings in NET Power by 14.6% during the fourth quarter. Barclays PLC now owns 54,750 shares of the company’s stock worth $125,000 after buying an additional 6,970 shares in the last quarter. Engineers Gate Manager LP grew its position in NET Power by 17.8% during the second quarter. Engineers Gate Manager LP now owns 46,433 shares of the company’s stock valued at $115,000 after buying an additional 7,002 shares during the period. Finally, Sig Brokerage LP increased its holdings in NET Power by 50.3% in the third quarter. Sig Brokerage LP now owns 24,298 shares of the company’s stock valued at $73,000 after buying an additional 8,130 shares in the last quarter. 53.62% of the stock is owned by hedge funds and other institutional investors.

About NET Power

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.