NET Power (NYSE:NPWR) Coverage Initiated at Northland Securities

Key Points

• Northland Securities initiated coverage of NET Power with an “outperform” rating and a $2.75 price target, implying approximately 44% upside from the stock’s $1.91 price. The broader analyst consensus remains “Hold,” with an average target of $3.25.
• NET Power shares were down 0.3% and have traded between $1.35 and $5.20 over the past year. The company recently reported a quarterly loss of $0.91 per share, missing the consensus estimate of a $0.07 loss.
• Insider selling has been significant: major shareholder 8 Rivers Capital sold 150,000 shares, while insiders sold more than 2 million shares over the past three months. Institutional investors and hedge funds own 53.62% of the company.

Analysts at Northland Securities initiated coverage on shares of NET Power (NYSE:NPWR - Get Free Report) in a research note issued on Monday, Benzinga reports. The firm set an "outperform" rating and a $2.75 price target on the stock. Northland Securities' price target indicates a potential upside of 44.36% from the stock's current price.

Other equities research analysts have also issued reports about the company. Wall Street Zen lowered NET Power from a "sell" rating to a "strong sell" rating in a report on Saturday, July 18th. Weiss Ratings upgraded NET Power from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, September 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, NET Power presently has a consensus rating of "Hold" and an average price target of $3.25.

NET Power Stock Down 0.3%

NET Power stock opened at $1.91 on Monday. NET Power has a 12 month low of $1.35 and a 12 month high of $5.20. The stock has a market cap of $428.36 million, a P/E ratio of -0.30 and a beta of 1.10. The company's fifty day simple moving average is $1.65 and its 200-day simple moving average is $1.75.

NET Power (NYSE:NPWR - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.84).

Insider Transactions at NET Power

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 150,000 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $1.84, for a total transaction of $276,000.00. Following the transaction, the insider directly owned 750,000 shares of the company's stock, valued at $1,380,000. This represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 2,005,858 shares of company stock valued at $3,460,668 in the last three months. Corporate insiders own 2.06% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. raised its stake in shares of 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 valued at $7,015,000 after acquiring an additional 400,000 shares in the last quarter. CenterBook Partners LP boosted its position in 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 purchasing an additional 599,725 shares during the period. Tidal Investments LLC grew its holdings in 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 purchasing an additional 1,013,309 shares during the last quarter. Geode Capital Management LLC grew its holdings in NET Power by 21.4% during the second quarter. Geode Capital Management LLC now owns 841,060 shares of the company's stock valued at $2,078,000 after purchasing an additional 148,307 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in shares of NET Power by 36.7% in the third quarter. Two Sigma Investments LP now owns 821,793 shares of the company's stock valued at $2,474,000 after purchasing an additional 220,831 shares during the period. Institutional investors and hedge funds own 53.62% of the company's stock.

About NET Power

NET Power Inc NYSE: NPWR is a clean-energy technology company focused on producing electricity from natural gas while capturing carbon dioxide emissions. Its technology is designed to generate reliable power with substantially reduced atmospheric emissions compared with conventional natural-gas power plants.

The company's principal technology is the Allam-Fetvedt Cycle, a process that uses high-pressure carbon dioxide as the working fluid in an oxy-combustion power cycle. The process is intended to produce electricity while capturing carbon dioxide in a concentrated form for transportation, storage, or potential industrial use.

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