NET Power (NYSE:NPWR) Cut to Strong Sell at Wall Street Zen

Key Points

• NET Power was downgraded by Wall Street Zen from “sell” to “strong sell”, adding to a recent Weiss Ratings downgrade as sentiment around the stock weakens.
• The stock has been under pressure, trading at $1.55 versus a 52-week high of $5.20, and it remains below both its 50-day and 200-day moving averages.
• NET Power also reported a wider-than-expected quarterly loss, posting EPS of ($0.12) versus the consensus estimate of ($0.07).

NET Power (NYSE:NPWR - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued on Saturday.

Separately, Weiss Ratings downgraded shares of NET Power from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, NET Power currently has a consensus rating of "Hold" and a consensus price target of $3.50.

NET Power Price Performance

Shares of NET Power stock opened at $1.55 on Friday. The business has a fifty day simple moving average of $1.80 and a two-hundred day simple moving average of $1.95. NET Power has a 1 year low of $1.45 and a 1 year high of $5.20. The company has a market capitalization of $348.97 million, a price-to-earnings ratio of -0.26 and a beta of 1.06.

NET Power (NYSE:NPWR - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.05).

Insiders Place Their Bets

In other news, major shareholder 8 Rivers Capital, Llc sold 400,000 shares of NET Power stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $2.44, for a total transaction of $976,000.00. Following the completion of the sale, the insider owned 3,000,000 shares of the company's stock, valued at approximately $7,320,000. This trade represents a 11.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.06% of the stock is owned by insiders.

Hedge Funds Weigh In On NET Power

A number of hedge funds have recently bought and sold shares of NPWR. Adage Capital Partners GP L.L.C. raised its stake in NET Power by 16.4% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company's stock worth $7,015,000 after purchasing an additional 400,000 shares in the last quarter. CenterBook Partners LP grew its position in shares of NET Power by 48.0% during the 4th quarter. CenterBook Partners LP now owns 1,848,073 shares of the company's stock worth $4,214,000 after purchasing an additional 599,725 shares in the last quarter. Geode Capital Management LLC grew its position in shares of NET Power by 21.4% during the 2nd quarter. Geode Capital Management LLC now owns 841,060 shares of the company's stock worth $2,078,000 after purchasing an additional 148,307 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of NET Power by 36.7% during the third quarter. Two Sigma Investments LP now owns 821,793 shares of the company's stock worth $2,474,000 after purchasing an additional 220,831 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of NET Power by 644.0% during the first quarter. Renaissance Technologies LLC now owns 703,800 shares of the company's stock worth $1,098,000 after purchasing an additional 609,200 shares during the period. 53.62% of the stock is owned by institutional investors.

About NET Power

NET Power, Inc is an energy technology company focused on developing and commercializing power generation plants that burn natural gas and other fuels with near-zero carbon emissions. The company's core innovation is the proprietary Allam-Fetvedt Cycle, a supercritical carbon dioxide power cycle that captures all carbon dioxide produced during combustion without the need for separate carbon capture systems. By integrating gas combustion, heat exchange and carbon dioxide separation into a single closed-loop process, NET Power aims to deliver baseload power with efficiencies and emissions profiles competitive with conventional and renewable generation sources.

Since demonstrating its first full-scale Allam-Cycle facility in La Porte, Texas, NET Power has moved from pilot operation toward commercial deployment.

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