NET Power (NYSE:NPWR) Trading 13.9% Higher – Still a Buy?

NET Power Inc. (NYSE:NPWR)’s stock price traded up 13.9% during mid-day trading on Tuesday . The company traded as high as $2.43 and last traded at $2.3240. 1,226,825 shares traded hands during mid-day trading, an increase of 60% from the average session volume of 766,965 shares. The stock had previously closed at $2.04.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $3.50.

NET Power Price Performance

The firm has a market cap of $497.09 million, a price-to-earnings ratio of 0.47 and a beta of 1.03. The firm’s fifty day moving average is $1.78 and its 200-day moving average is $2.31.

NET Power (NYSE:NPWR) last released its earnings results on Monday, May 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.05).

Insider Transactions at NET Power

In related news, major shareholder 8 Rivers Capital, Llc sold 400,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $2.44, for a total value of $976,000.00. Following the transaction, the insider owned 3,000,000 shares in the company, valued at $7,320,000. The trade was a 11.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 985,000 shares of company stock valued at $2,207,698 in the last quarter. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On NET Power

Hedge funds and other institutional investors have recently bought and sold shares of the company. CenterBook Partners LP increased its position in shares of NET Power by 48.0% during the fourth quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock worth $4,214,000 after acquiring an additional 599,725 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in NET Power by 16.4% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock worth $7,015,000 after purchasing an additional 400,000 shares in the last quarter. Caption Management LLC grew 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 worth $993,000 after purchasing an additional 346,068 shares in the last quarter. UBS Group AG grew its position in NET Power by 183.1% in the 3rd quarter. UBS Group AG now owns 430,452 shares of the company’s stock worth $1,296,000 after purchasing an additional 278,400 shares in the last quarter. Finally, Empowered Funds LLC grew its position in NET Power by 99.3% in the 4th quarter. Empowered Funds LLC now owns 444,734 shares of the company’s stock worth $1,014,000 after purchasing an additional 221,530 shares in the last quarter. Institutional investors and hedge funds own 53.62% of the company’s stock.

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.