NET Power (NYSE:NPWR) Lowered to Strong Sell Rating by Wall Street Zen

Wall Street Zen cut shares of NET Power (NYSE:NPWR) from a sell rating to a strong sell rating in a report issued on Saturday morning.

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

NET Power Stock Down 3.8%

NET Power stock opened at $2.14 on Friday. The company’s 50-day moving average price is $1.78 and its 200-day moving average price is $2.31. NET Power has a twelve month low of $1.46 and a twelve month high of $5.20. The company has a market cap of $479.14 million, a PE ratio of -0.36 and a beta of 1.03.

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

Insiders Place Their Bets

In related news, major shareholder 8 Rivers Capital, Llc sold 35,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $2.43, for a total transaction of $85,050.00. Following the sale, the insider owned 2,965,000 shares in the company, valued at approximately $7,204,950. This represents a 1.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 885,000 shares of company stock worth $1,993,698. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On NET Power

Hedge funds have recently added to or reduced their stakes in the company. CenterBook Partners LP grew its holdings in NET Power by 78.8% during the 3rd quarter. CenterBook Partners LP now owns 1,248,348 shares of the company’s stock valued at $3,758,000 after purchasing an additional 550,270 shares during the last quarter. Wells Fargo & Company MN grew its holdings in NET Power by 57.3% during the 4th quarter. Wells Fargo & Company MN now owns 49,245 shares of the company’s stock valued at $112,000 after purchasing an additional 17,931 shares during the last quarter. Brooklyn Investment Group grew its holdings in NET Power by 2,113.1% during the 3rd quarter. Brooklyn Investment Group now owns 27,000 shares of the company’s stock valued at $81,000 after purchasing an additional 25,780 shares during the last quarter. Legacy Advisors LLC bought a new position in NET Power during the 3rd quarter valued at about $49,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in NET Power by 44.9% during 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 last quarter. 53.62% of the stock is currently owned by 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.