Tidal Investments LLC Acquires 1,013,309 Shares of NET Power Inc. $NPWR

Key Points

• Tidal Investments increased its NET Power stake by 190% in the second quarter, buying 1,013,309 additional shares and bringing its holdings to 1,546,562 shares, worth approximately $2.58 million.
• Analyst sentiment remains mixed, with NET Power carrying a consensus “Hold” rating and an average price target of $3.25; Northland Securities initiated coverage with an “Outperform” rating and a $2.75 target.
• NET Power reported a significant quarterly earnings miss, posting a loss of $0.91 per share versus the consensus estimate of a $0.07 loss. Meanwhile, major shareholder 8 Rivers Capital sold 150,000 shares, and insiders have sold more than 2 million shares over the past quarter.

Tidal Investments LLC increased its holdings in shares of NET Power Inc. (NYSE:NPWR - Free Report) by 190.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,546,562 shares of the company's stock after purchasing an additional 1,013,309 shares during the period. Tidal Investments LLC owned approximately 0.69% of NET Power worth $2,583,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Summit Securities Group LLC bought a new position in shares of NET Power during the 1st quarter worth approximately $30,000. Integrity Alliance LLC. bought a new stake in shares of NET Power in the 4th quarter valued at $40,000. Bank of America Corp DE increased its stake in shares of NET Power by 40.1% in the 1st quarter. Bank of America Corp DE now owns 35,083 shares of the company's stock valued at $55,000 after acquiring an additional 10,034 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of NET Power during the 2nd quarter valued at $140,000. Finally, SIR Capital Management L.P. acquired a new position in shares of NET Power during the 2nd quarter valued at $183,000. 53.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on NPWR shares. Wall Street Zen cut shares of NET Power from a "sell" rating to a "strong sell" rating in a report on Saturday, July 18th. Weiss Ratings raised shares of NET Power from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, September 8th. Finally, Northland Securities started coverage on NET Power in a research note on Monday. They issued an "outperform" rating and a $2.75 target price for the company. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, NET Power currently has a consensus rating of "Hold" and an average target price of $3.25.

Insider Buying and Selling at NET Power

In related news, major shareholder 8 Rivers Capital, Llc sold 150,000 shares of the company's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $1.84, for a total value of $276,000.00. Following the sale, the insider owned 750,000 shares in the company, valued at $1,380,000. This represents a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 2,005,858 shares of company stock valued at $3,460,668. Corporate insiders own 2.06% of the company's stock.

NET Power Stock Down 0.3%

Shares of NPWR opened at $1.79 on Wednesday. The business's fifty day moving average is $1.66 and its 200 day moving average is $1.75. NET Power Inc. has a 12-month low of $1.35 and a 12-month high of $5.20. The stock has a market cap of $403.62 million, a P/E ratio of -0.28 and a beta of 1.10.

NET Power (NYSE:NPWR - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.84).

NET Power Profile

NET Power Inc NYSE: NPWR is a clean-energy technology company focused on producing electricity from natural gas while capturing carbon dioxide emissions. Its technology is designed to generate reliable power with substantially reduced atmospheric emissions compared with conventional natural-gas power plants.

The company's principal technology is the Allam-Fetvedt Cycle, a process that uses high-pressure carbon dioxide as the working fluid in an oxy-combustion power cycle. The process is intended to produce electricity while capturing carbon dioxide in a concentrated form for transportation, storage, or potential industrial use.

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