HITE Hedge Asset Management LLC Has $1.96 Million Holdings in NET Power Inc. $NPWR

Key Points

• HITE Hedge Asset Management LLC significantly increased its stake in NET Power Inc. by 80.6%, owning 743,238 shares valued at approximately $1.96 million as of the last quarter.
• Shares of NET Power opened at $2.44, with a market cap of $534.53 million, but it has faced challenges, posting a loss of ($0.36) earnings per share in its recent earnings report.
• Analysts have downgraded NET Power's rating from "equal weight" to "underweight," lowering the price target from $3.00 to $2.00.

HITE Hedge Asset Management LLC raised its stake in NET Power Inc. (NYSE:NPWR - Free Report) by 80.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 743,238 shares of the company's stock after purchasing an additional 331,726 shares during the period. HITE Hedge Asset Management LLC owned 0.34% of NET Power worth $1,955,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in shares of NET Power in the first quarter valued at $221,000. Nuveen LLC acquired a new position in shares of NET Power in the first quarter valued at about $136,000. CenterBook Partners LP grew its stake in shares of NET Power by 1,655.5% in the first quarter. CenterBook Partners LP now owns 1,744,770 shares of the company's stock valued at $4,589,000 after acquiring an additional 1,645,380 shares in the last quarter. Deutsche Bank AG grew its stake in shares of NET Power by 63.0% in the first quarter. Deutsche Bank AG now owns 14,051 shares of the company's stock valued at $37,000 after acquiring an additional 5,429 shares in the last quarter. Finally, XTX Topco Ltd grew its stake in shares of NET Power by 129.3% in the first quarter. XTX Topco Ltd now owns 138,198 shares of the company's stock valued at $363,000 after acquiring an additional 77,929 shares in the last quarter. 53.62% of the stock is currently owned by institutional investors and hedge funds.

NET Power Stock Performance

Shares of NPWR stock traded up $0.2150 on Friday, hitting $2.5250. The company's stock had a trading volume of 828,167 shares, compared to its average volume of 1,507,145. The stock's 50 day moving average is $2.70 and its 200-day moving average is $3.18. NET Power Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $14.28. The company has a market capitalization of $553.53 million, a PE ratio of -1.07 and a beta of 0.72.

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

NET Power Company Profile

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.