Kensico Capital Management Corp Sells 1,759,900 Shares of NET Power Inc. $NPWR

Key Points

• Kensico Capital Management Corp significantly reduced its stake in NET Power Inc. by 77.8%, owning only 500,800 shares after selling 1,759,900 shares in the first quarter.
• Adage Capital Partners GP L.L.C. increased its holdings in NET Power by 481%, now owning 2,440,000 shares valued at $6,417,000, while other funds also made new acquisitions during the same period.
• NET Power's earnings report indicated a loss of ($0.36) per share, missing estimates of ($0.12), and analysts forecast a full-year EPS of -0.4.

Kensico Capital Management Corp lowered its holdings in NET Power Inc. (NYSE:NPWR - Free Report) by 77.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 500,800 shares of the company's stock after selling 1,759,900 shares during the quarter. NET Power comprises approximately 0.1% of Kensico Capital Management Corp's investment portfolio, making the stock its 23rd largest holding. Kensico Capital Management Corp owned about 0.23% of NET Power worth $4,593,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NPWR. Adage Capital Partners GP L.L.C. raised its stake in NET Power by 481.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,440,000 shares of the company's stock valued at $6,417,000 after acquiring an additional 2,020,000 shares during the period. CenterBook Partners LP raised its holdings in NET Power by 1,655.5% in the first quarter. CenterBook Partners LP now owns 1,744,770 shares of the company's stock worth $4,589,000 after purchasing an additional 1,645,380 shares in the last quarter. HITE Hedge Asset Management LLC increased its holdings in shares of NET Power by 80.6% during the first quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company's stock valued at $1,955,000 after acquiring an additional 331,726 shares in the last quarter. Northern Trust Corp increased its holdings in shares of NET Power by 11.5% during the fourth quarter. Northern Trust Corp now owns 219,511 shares of the company's stock valued at $2,325,000 after acquiring an additional 22,604 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of NET Power by 930.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 141,958 shares of the company's stock valued at $1,505,000 after acquiring an additional 128,187 shares in the last quarter. 53.62% of the stock is owned by hedge funds and other institutional investors.

NET Power Price Performance

Shares of NET Power stock traded up $0.04 during trading on Tuesday, hitting $2.14. 614,932 shares of the company's stock traded hands, compared to its average volume of 1,333,034. NET Power Inc. has a 1 year low of $1.48 and a 1 year high of $14.28. The stock has a market capitalization of $468.25 million, a P/E ratio of -0.91 and a beta of 0.71. The business has a 50-day simple moving average of $2.72 and a 200-day simple moving average of $2.75.

NET Power (NYSE:NPWR - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.24). On average, equities analysts predict that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

About NET Power

NET Power Inc operates as a clean energy technology company. The company invents, develops, and licenses clean power generation technology. NET Power Inc was founded in 2010 and is headquartered in Durham, North Carolina.