NET Power (NYSE:NPWR) Issues Quarterly Earnings Results, Misses Expectations By $0.05 EPS

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

NET Power Stock Up 0.8%

NET Power stock traded up $0.02 during midday trading on Monday, reaching $2.02. 806,756 shares of the stock traded hands, compared to its average volume of 769,343. The stock’s fifty day moving average is $1.76 and its 200-day moving average is $2.33. NET Power has a 12 month low of $1.46 and a 12 month high of $5.20. The stock has a market cap of $452.20 million, a P/E ratio of -0.28 and a beta of 1.03.

Insider Transactions at NET Power

In related news, major shareholder 8 Rivers Capital, Llc sold 100,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $816,000. This represents a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 800,000 shares of company stock worth $1,655,548 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NET Power

A number of hedge funds have recently bought and sold shares of NPWR. Schonfeld Strategic Advisors LLC purchased a new stake in NET Power during the fourth quarter valued at $25,000. Invesco Ltd. purchased a new stake in NET Power during the second quarter valued at $25,000. Sei Investments Co. purchased a new stake in NET Power during the second quarter valued at $32,000. Quantbot Technologies LP purchased a new stake in NET Power during the third quarter valued at $39,000. Finally, JPMorgan Chase & Co. raised its stake in NET Power by 48.7% during the second 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 in the last quarter. Hedge funds and other institutional investors own 53.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.