NET Power Inc. (NYSE:NPWR) Stock Now Rated “Hold” by Sell-Side Brokerages

by · The Markets Daily

NET Power Inc. (NYSE:NPWR – Get Free Report) has been given an average rating of “Hold” by the five research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $3.25.

A number of equities analysts have commented on the stock. Weiss Ratings downgraded shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 22nd. Northland Securities began coverage on shares of NET Power in a report on Monday, September 14th. They set an “outperform” rating and a $2.75 target price on the stock. Zacks Research raised shares of NET Power to a “hold” rating in a report on Tuesday, September 15th. Finally, Wall Street Zen downgraded shares of NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th.

Get Our Latest Research Report on NPWR

NET Power Stock Down 7.7%

NYSE NPWR opened at $1.01 on Monday. The stock has a market cap of $228.23 million, a PE ratio of 0.24 and a beta of 1.16. NET Power has a fifty-two week low of $0.99 and a fifty-two week high of $4.32. The business has a 50 day moving average price of $1.63 and a two-hundred day moving average price of $1.69.

NET Power (NYSE:NPWR – Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.84). Sell-side analysts anticipate that NET Power will post -1.14 EPS for the current fiscal year.

Insider Buying and Selling at NET Power

In related news, major shareholder 8 Rivers Capital, Llc sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $1.84, for a total value of $276,000.00. Following the sale, the insider owned 750,000 shares of the company’s stock, valued at approximately $1,380,000. This trade represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 2,005,858 shares of company stock worth $3,460,668. 2.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NET Power

Several hedge funds and other institutional investors have recently modified their holdings of the company. MRA Advisory Group acquired a new position in shares of NET Power during the third quarter worth approximately $320,000. Tidal Investments LLC increased its stake in shares of NET Power by 190.0% during the second quarter. Tidal Investments LLC now owns 1,546,562 shares of the company’s stock valued at $2,583,000 after acquiring an additional 1,013,309 shares during the period. SIR Capital Management L.P. acquired a new position in shares of NET Power during the second quarter valued at approximately $183,000. Bank of New York Mellon Corp bought a new stake in NET Power during the second quarter worth approximately $140,000. Finally, Bank of America Corp DE raised its holdings in NET Power by 40.1% during the first quarter. Bank of America Corp DE now owns 35,083 shares of the company’s stock worth $55,000 after purchasing an additional 10,034 shares in the last quarter. Institutional investors and hedge funds own 53.62% of the company’s stock.

NET Power Company Profile

(Get Free Report)

NET Power, Inc develops technology for generating reliable electricity from natural gas while capturing carbon dioxide emissions. Its proprietary Allam-Fetvedt Cycle uses carbon dioxide as the working fluid in a high-pressure power-generation process, enabling the production of electricity and a concentrated carbon dioxide stream that can be transported for utilization or permanent storage.

The company’s technology is designed to support low-emissions, dispatchable power generation and can be integrated with carbon capture, utilization and storage systems.

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