NET Power Inc. (NYSE:NPWR) Shares Bought 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 increased its holdings in NET Power Inc. (NYSE:NPWR - Free Report) by 1,655.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,744,770 shares of the company's stock after acquiring an additional 1,645,380 shares during the quarter. CenterBook Partners LP owned approximately 0.80% of NET Power worth $4,589,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its holdings in NET Power by 63.0% in the first quarter. Deutsche Bank AG now owns 14,051 shares of the company's stock worth $37,000 after purchasing an additional 5,429 shares in the last quarter. Covestor Ltd acquired a new position in shares of NET Power during the fourth quarter valued at about $43,000. Legacy Advisors LLC acquired a new position in shares of NET Power during the first quarter valued at about $43,000. National Bank of Canada FI increased its holdings in shares of NET Power by 2,727.0% during the fourth quarter. National Bank of Canada FI now owns 11,930 shares of the company's stock valued at $126,000 after acquiring an additional 11,508 shares in the last quarter. Finally, Mariner LLC acquired a new position in shares of NET Power during the fourth quarter valued at about $139,000. 53.62% of the stock is owned by hedge funds and other institutional investors.

NET Power Stock Down 0.7%

Shares of NPWR traded down $0.02 during mid-day trading on Friday, hitting $2.68. 780,112 shares of the company traded hands, compared to its average volume of 1,765,771. NET Power Inc. has a 1-year low of $1.48 and a 1-year high of $14.28. The company has a market capitalization of $587.11 million, a PE ratio of -1.30 and a beta of 0.72. The business has a 50 day moving average of $2.69 and a 200 day moving average of $3.69.

NET Power (NYSE:NPWR - Get Free Report) last posted its quarterly earnings data 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). As a group, research analysts expect that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Barclays downgraded shares of NET Power from an "equal weight" rating to an "underweight" rating and cut their price objective 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.