NET Power (NYSE:NPWR) Releases Quarterly Earnings Results, Misses Estimates By $0.84 EPS

Key Points

• NET Power reported a quarterly loss of $0.91 per share, missing analysts’ expected loss of $0.07 by $0.84.
• Shares fell 0.3% to $1.62, near the lower end of their 52-week range. Analysts maintain a consensus “Hold” rating with an average price target of $3.50.
• Insider selling continued, including a 155,000-share sale by major shareholder 8 Rivers Capital; insiders have sold roughly 756,000 shares worth $1.13 million over the past 90 days.

NET Power (NYSE:NPWR - Get Free Report) released its earnings results on Thursday. The company reported ($0.91) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.84), FiscalAI reports.

NET Power Stock Down 0.3%

Shares of NYSE NPWR traded down $0.01 during midday trading on Thursday, reaching $1.62. 905,005 shares of the stock were exchanged, compared to its average volume of 779,549. The firm has a market cap of $364.68 million, a price-to-earnings ratio of -0.28 and a beta of 1.07. NET Power has a twelve month low of $1.35 and a twelve month high of $5.20. The firm has a 50-day simple moving average of $1.61 and a two-hundred day simple moving average of $1.81.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NPWR. Weiss Ratings raised shares of NET Power from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday. Wall Street Zen downgraded shares of NET Power from a "sell" rating to a "strong sell" rating in a report on Saturday, July 18th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $3.50.

Insider Activity

In related news, major shareholder 8 Rivers Capital, Llc sold 155,000 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $1.43, for a total transaction of $221,650.00. Following the sale, the insider directly owned 2,500,000 shares of the company's stock, valued at approximately $3,575,000. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 755,858 shares of company stock valued at $1,132,384. Insiders own 2.06% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in NET Power by 48.7% during the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company's stock worth $40,000 after buying an additional 5,255 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of NET Power by 44.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company's stock valued at $46,000 after acquiring an additional 5,739 shares during the period. Barclays PLC lifted its holdings in shares of NET Power by 14.6% in the 4th quarter. Barclays PLC now owns 54,750 shares of the company's stock worth $125,000 after acquiring an additional 6,970 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in NET Power by 17.8% during the 2nd quarter. Engineers Gate Manager LP now owns 46,433 shares of the company's stock valued at $115,000 after acquiring an additional 7,002 shares during the period. Finally, Sig Brokerage LP boosted its position in NET Power by 50.3% in the 3rd quarter. Sig Brokerage LP now owns 24,298 shares of the company's stock valued at $73,000 after buying an additional 8,130 shares during the period. Institutional investors and hedge funds own 53.62% of the company's stock.

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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