Adage Capital Partners GP L.L.C. increased its position in shares of NET Power Inc. (NYSE:NPWR - Free Report) by 481.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,440,000 shares of the company's stock after purchasing an additional 2,020,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 1.12% of NET Power worth $6,417,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PDT Partners LLC purchased a new position in NET Power during the first quarter worth about $294,000. Caption Management LLC purchased a new position in NET Power in the first quarter valued at about $147,000. EntryPoint Capital LLC purchased a new position in NET Power in the first quarter valued at about $126,000. HITE Hedge Asset Management LLC boosted its stake in NET Power by 80.6% in 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 during the last quarter. Finally, Quantbot Technologies LP purchased a new position in NET Power in the first quarter valued at about $221,000. 53.62% of the stock is currently owned by hedge funds and other institutional investors.
NET Power Trading Down 0.7%
Shares of NPWR stock traded down $0.02 during trading on Friday, reaching $2.12. 155,031 shares of the company's stock traded hands, compared to its average volume of 1,321,076. The company has a market capitalization of $463.65 million, a P/E ratio of -0.90 and a beta of 0.71. The firm's 50-day moving average is $2.68 and its 200 day moving average is $2.71. NET Power Inc. has a 1 year low of $1.48 and a 1 year high of $14.28.
NET Power (NYSE:NPWR - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.24). As a group, sell-side analysts predict that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.
About NET Power
(
Free Report)
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.
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