NET Power (NYSE:NPWR) Sees Strong Trading Volume - Should You Buy?

Key Points

• NET Power (NYSE:NPWR) experienced a significant increase in trading volume, reaching over 5.6 million shares, which marks a 322% jump from the previous session.
• Despite the stock price surge of approximately 23.9%, analysts have issued mixed ratings, with Weiss Ratings maintaining a "sell" rating and the consensus target price at $4.00.
• Institutional investors have shown increased interest, with notable firms like Adage Capital Partners and CenterBook Partners significantly expanding their holdings by 481% and 1,655%, respectively.

NET Power Inc. (NYSE:NPWR - Get Free Report) saw an uptick in trading volume on Wednesday . 5,676,016 shares were traded during mid-day trading, an increase of 322% from the previous session's volume of 1,346,368 shares.The stock last traded at $4.52 and had previously closed at $3.51.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NET Power in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $4.00.

NET Power Stock Up 23.9%

The stock has a market capitalization of $953.61 million, a P/E ratio of -1.84 and a beta of 0.75. The firm has a 50-day moving average of $2.63 and a 200 day moving average of $2.44.

NET Power (NYSE:NPWR - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.24). Analysts predict that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NPWR. Adage Capital Partners GP L.L.C. lifted its holdings in shares of NET Power by 481.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 2,440,000 shares of the company's stock valued at $6,417,000 after acquiring an additional 2,020,000 shares during the period. CenterBook Partners LP lifted its holdings in shares of NET Power by 1,655.5% during the first quarter. CenterBook Partners LP now owns 1,744,770 shares of the company's stock valued at $4,589,000 after acquiring an additional 1,645,380 shares during the period. Caption Management LLC lifted its holdings in shares of NET Power by 619.8% during the second quarter. Caption Management LLC now owns 401,899 shares of the company's stock valued at $993,000 after acquiring an additional 346,068 shares during the period. HITE Hedge Asset Management LLC raised its holdings in shares of NET Power by 80.6% in the first quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company's stock valued at $1,955,000 after buying an additional 331,726 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of NET Power by 21.4% in the second quarter. Geode Capital Management LLC now owns 841,060 shares of the company's stock valued at $2,078,000 after buying an additional 148,307 shares during the last quarter. 53.62% of the stock is owned by institutional investors.

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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