NET Power (NYSE:NPWR) Posts Earnings Results, Misses Estimates By $0.24 EPS

Key Points

• NET Power reported a quarterly EPS of ($0.36), missing the consensus estimate of ($0.12) by ($0.24).
• Shares of NET Power rose $0.22 to close at $2.91 with a 52-week range between $1.48 and $14.28.
• Barclays downgraded NET Power's stock rating from "equal weight" to "underweight" and cut the price target from $3.00 to $2.00.

NET Power (NYSE:NPWR - Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.24), Zacks reports.

NET Power Price Performance

Shares of NPWR traded up $0.22 during trading hours on Monday, hitting $2.91. The company's stock had a trading volume of 1,212,088 shares, compared to its average volume of 1,738,614. The business has a 50 day simple moving average of $2.71 and a two-hundred day simple moving average of $3.56. NET Power has a 52-week low of $1.48 and a 52-week high of $14.28.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On NET Power

An institutional investor recently raised its position in NET Power stock. Geode Capital Management LLC grew its holdings in shares of NET Power Inc. (NYSE:NPWR - Free Report) by 21.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 841,060 shares of the company's stock after acquiring an additional 148,307 shares during the quarter. Geode Capital Management LLC owned 0.38% of NET Power worth $2,078,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 53.62% of the company's stock.

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.

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