S&CO Inc. Trims Stake in NET Power Inc. (NYSE:NPWR)

Key Points

• S&CO Inc. reduced its stake in NET Power Inc. by 30.9%, selling 105,475 shares and retaining approximately 0.11% of the company valued at $620,000 as of its latest SEC filing.
• NET Power reported a significant earnings miss for the last quarter, posting earnings of ($1.55) per share, which was $1.44 below the consensus estimate.
• Barclays downgraded NET Power from "equal weight" to "underweight" and lowered the target price from $3.00 to $2.00.

S&CO Inc. lessened its position in shares of NET Power Inc. (NYSE:NPWR - Free Report) by 30.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 235,930 shares of the company's stock after selling 105,475 shares during the period. S&CO Inc. owned about 0.11% of NET Power worth $620,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NPWR. Covestor Ltd acquired a new stake in shares of NET Power in the fourth quarter worth $43,000. National Bank of Canada FI raised its position in shares of NET Power by 2,727.0% during the 4th 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 during the last quarter. Mariner LLC acquired a new position in NET Power in the 4th quarter worth $139,000. LPL Financial LLC lifted its stake in NET Power by 15.0% in the 4th quarter. LPL Financial LLC now owns 14,036 shares of the company's stock valued at $149,000 after purchasing an additional 1,832 shares during the last quarter. Finally, Williams Jones Wealth Management LLC. bought a new position in NET Power in the 4th quarter valued at about $159,000. Institutional investors own 53.62% of the company's stock.

NET Power Stock Performance

NYSE NPWR traded down $0.25 on Friday, hitting $2.63. The stock had a trading volume of 2,052,330 shares, compared to its average volume of 1,387,018. The firm has a 50-day moving average of $2.59 and a 200-day moving average of $3.96. The company has a market capitalization of $576.15 million, a price-to-earnings ratio of -1.28 and a beta of 0.70. NET Power Inc. has a 52-week low of $1.48 and a 52-week high of $14.28.

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

Analysts Set New Price Targets

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

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.