NET Power Inc. (NYSE:NPWR) Sees Large Increase in Short Interest

NET Power Inc. (NYSE:NPWR - Get Free Report) was the recipient of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 5,030,000 shares, an increase of 42.5% from the May 15th total of 3,530,000 shares. Based on an average trading volume of 1,650,000 shares, the short-interest ratio is presently 3.0 days. Currently, 15.8% of the shares of the stock are sold short.

Hedge Funds Weigh In On NET Power

Several institutional investors and hedge funds have recently modified their holdings of NPWR. Deutsche Bank AG boosted its position 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 purchasing an additional 5,429 shares during the last quarter. Covestor Ltd acquired a new stake in shares of NET Power during the 4th quarter valued at about $43,000. Legacy Advisors LLC bought a new stake in shares of NET Power in the 1st quarter valued at approximately $43,000. National Bank of Canada FI increased its holdings in NET Power by 2,727.0% in the fourth quarter. National Bank of Canada FI now owns 11,930 shares of the company's stock worth $126,000 after buying an additional 11,508 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in NET Power during the first quarter valued at approximately $126,000. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

NET Power Stock Down 1.4%

Shares of NET Power stock traded down $0.04 during trading on Monday, hitting $2.47. The stock had a trading volume of 1,058,380 shares, compared to its average volume of 843,103. NET Power has a 1 year low of $1.48 and a 1 year high of $14.28. The stock has a 50 day simple moving average of $2.02 and a 200 day simple moving average of $5.71. The company has a market capitalization of $540.00 million, a PE ratio of -1.20 and a beta of 0.64.

NET Power (NYSE:NPWR - Get Free Report) last posted its quarterly 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, equities analysts expect that NET Power will post -0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NPWR. Citigroup upgraded NET Power from a "neutral" rating to a "buy" rating and cut their price objective for the company from $14.00 to $6.00 in a research report on Tuesday, March 11th. Barclays lowered NET Power from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $3.00 to $2.00 in a research 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.