Short Interest in NET Power Inc. (NYSE:NPWR) Drops By 13.0%

NET Power Inc. (NYSE:NPWR) was the target of a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 2,402,195 shares, a drop of 13.0% from the February 12th total of 2,760,739 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 764,912 shares, the days-to-cover ratio is currently 3.1 days. Based on an average daily trading volume, of 764,912 shares, the days-to-cover ratio is currently 3.1 days. Currently, 1.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NPWR. Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a report on Thursday, January 22nd. Citigroup lowered their price objective on NET Power from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NET Power currently has an average rating of “Hold” and a consensus price target of $3.50.

Insiders Place Their Bets

In related news, major shareholder 8 Rivers Capital, Llc sold 230,000 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $2.63, for a total value of $604,900.00. Following the sale, the insider owned 1,550,000 shares in the company, valued at approximately $4,076,500. This trade represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 2,015,000 shares of company stock worth $4,575,605. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Invesco Ltd. purchased a new stake in shares of NET Power in the 2nd quarter worth about $25,000. Schonfeld Strategic Advisors LLC bought a new position in NET Power in the fourth quarter worth about $25,000. Sei Investments Co. acquired a new stake in NET Power in the second quarter worth $32,000. Quantbot Technologies LP acquired a new position in shares of NET Power during the third quarter valued at $39,000. Finally, JPMorgan Chase & Co. lifted 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 valued at $40,000 after purchasing an additional 5,255 shares during the last quarter. Hedge funds and other institutional investors own 53.62% of the company’s stock.

NET Power Price Performance

NYSE:NPWR traded up $0.15 during trading hours on Tuesday, reaching $1.84. The company had a trading volume of 414,405 shares, compared to its average volume of 834,012. The firm has a market cap of $407.63 million, a PE ratio of -0.25 and a beta of 0.84. NET Power has a 1-year low of $1.48 and a 1-year high of $5.20. The business’s 50 day moving average price is $2.23 and its 200-day moving average price is $2.68.

NET Power (NYSE:NPWR) last issued its quarterly earnings data on Monday, March 9th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.11). On average, analysts expect that NET Power will post -0.4 earnings per share for the current fiscal year.

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.