HITE Hedge Asset Management LLC Raises Stock Position 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 increased its position in shares of NET Power Inc. (NYSE:NPWR - Free Report) by 80.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NPWR. Deutsche Bank AG grew its stake in NET Power by 63.0% during 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. Legacy Advisors LLC purchased a new position in NET Power during the first quarter valued at $43,000. Nuveen LLC purchased a new position in NET Power during the first quarter valued at $136,000. Mariner LLC purchased a new position in NET Power during the fourth quarter valued at $139,000. Finally, LPL Financial LLC grew its stake in NET Power by 15.0% during the fourth quarter. LPL Financial LLC now owns 14,036 shares of the company's stock valued at $149,000 after acquiring an additional 1,832 shares in the last quarter. 53.62% of the stock is currently owned by institutional investors.

NET Power Trading Up 9.3%

NPWR traded up $0.2150 during trading on Friday, hitting $2.5250. 828,167 shares of the company traded hands, compared to its average volume of 1,529,269. The company has a market cap of $553.53 million, a PE ratio of -1.07 and a beta of 0.72. The stock's 50-day simple moving average is $2.70 and its two-hundred day simple moving average is $3.26. 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 posted its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.24). Equities analysts expect that NET Power Inc. will post -0.4 EPS for the current 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.