NET Power Inc. (NYSE:NPWR) Shares Acquired by CenterBook Partners LP

Key Points

• CenterBook Partners LP increased its stake in NET Power Inc. by 1,655.5%, purchasing an additional 1,645,380 shares to own 1,744,770 shares total, worth approximately $4.59 million.
• NET Power reported a loss of ($1.55) earnings per share for the last quarter, significantly missing analyst expectations, with forecasts suggesting -0.4 earnings per share for the current year.
• Barclays downgraded NET Power's rating from "equal weight" to "underweight" and reduced their price target from $3.00 to $2.00.

CenterBook Partners LP grew its position in shares of NET Power Inc. (NYSE:NPWR - Free Report) by 1,655.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,744,770 shares of the company's stock after buying an additional 1,645,380 shares during the quarter. CenterBook Partners LP owned 0.80% of NET Power worth $4,589,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Deutsche Bank AG increased its holdings in shares of NET Power by 63.0% in the 1st quarter. Deutsche Bank AG now owns 14,051 shares of the company's stock valued at $37,000 after purchasing an additional 5,429 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of NET Power by 129.3% in the 1st quarter. XTX Topco Ltd now owns 138,198 shares of the company's stock valued at $363,000 after purchasing an additional 77,929 shares in the last quarter. Legacy Advisors LLC purchased a new position in shares of NET Power in the 1st quarter valued at about $43,000. Williams Jones Wealth Management LLC. purchased a new position in shares of NET Power in the 4th quarter valued at about $159,000. Finally, Man Group plc purchased a new position in shares of NET Power in the 4th quarter valued at about $1,066,000. Hedge funds and other institutional investors own 53.62% of the company's stock.

NET Power Stock Performance

NYSE NPWR traded up $0.04 during trading hours on Monday, reaching $2.73. The company's stock had a trading volume of 300,514 shares, compared to its average volume of 1,362,472. The stock has a market cap of $596.97 million, a PE ratio of -1.33 and a beta of 0.72. NET Power Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $14.28. The company's 50-day moving average is $2.69 and its two-hundred day moving average is $3.61.

NET Power (NYSE:NPWR - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($1.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($1.44). Equities analysts expect that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Barclays downgraded shares of NET Power from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $3.00 to $2.00 in a report on Wednesday, April 23rd.

NET Power 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.