NET Power (NYSE:NPWR) Issues Quarterly Earnings Results

NET Power (NYSE:NPWR) released its quarterly earnings data on Monday. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04), FiscalAI reports.

NET Power Price Performance

NET Power stock traded down $0.00 during midday trading on Monday, hitting $1.95. 863,658 shares of the company were exchanged, compared to its average volume of 828,011. The company has a market cap of $432.51 million, a PE ratio of -0.25 and a beta of 0.84. NET Power has a fifty-two week low of $1.48 and a fifty-two week high of $5.33. The company’s fifty day moving average price is $2.29 and its 200-day moving average price is $2.71.

Insider Transactions at NET Power

In other news, major shareholder 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $2.04, for a total transaction of $204,000.00. Following the sale, the insider owned 400,000 shares in the company, valued at $816,000. This trade represents a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 2,055,000 shares of company stock valued at $4,688,405 over the last three months. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On NET Power

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in NET Power by 48.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock worth $40,000 after buying an additional 5,255 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of NET Power by 44.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company’s stock worth $46,000 after acquiring an additional 5,739 shares during the last quarter. Barclays PLC lifted its stake in shares of NET Power by 14.6% in the fourth quarter. Barclays PLC now owns 54,750 shares of the company’s stock worth $125,000 after acquiring an additional 6,970 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in NET Power by 17.8% in the second quarter. Engineers Gate Manager LP now owns 46,433 shares of the company’s stock valued at $115,000 after purchasing an additional 7,002 shares during the last quarter. Finally, Sig Brokerage LP grew its stake in NET Power by 50.3% during the 3rd quarter. Sig Brokerage LP now owns 24,298 shares of the company’s stock valued at $73,000 after purchasing an additional 8,130 shares in the last quarter. 53.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Barclays raised shares of NET Power from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $2.00 to $3.00 in a research report on Friday, November 14th. Citigroup cut their target price on shares of 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, Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a report on Thursday, January 22nd. One 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, NET Power has an average rating of “Hold” and a consensus price target of $3.50.

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.