NET Power (NYSE:NPWR) Shares Down 5.4% - What's Next?

Key Points

• NET Power Inc. shares dropped by 5.4% to $2.89, with trading volume significantly down 70% from the average.
• The company reported a loss of ($0.36) earnings per share, missing consensus estimates by ($0.24).
• Institutional investors collectively own 53.62% of the company's stock, with several firms increasing their holdings notably, such as JPMorgan Chase & Co. which raised its stake by 48.7%.

NET Power Inc. (NYSE:NPWR - Get Free Report) fell 5.4% on Friday . The company traded as low as $2.89 and last traded at $2.89. 397,986 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 1,323,338 shares. The stock had previously closed at $3.05.

NET Power Trading Down 0.7%

The company has a 50-day moving average of $2.56 and a 200-day moving average of $2.43. The firm has a market capitalization of $664.24 million, a price-to-earnings ratio of -1.28 and a beta of 0.71.

NET Power (NYSE:NPWR - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.24). On average, research analysts forecast that NET Power Inc. will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On NET Power

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of NET Power by 48.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company's stock worth $40,000 after purchasing an additional 5,255 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of NET Power by 63.0% in the first quarter. Deutsche Bank AG now owns 14,051 shares of the company's stock valued at $37,000 after buying an additional 5,429 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of NET Power by 44.9% during 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 last quarter. Bank of America Corp DE boosted its stake in shares of NET Power by 42.8% during the 4th quarter. Bank of America Corp DE now owns 23,263 shares of the company's stock worth $246,000 after acquiring an additional 6,975 shares in the last quarter. Finally, Engineers Gate Manager LP grew its holdings in shares of NET Power by 17.8% in the 2nd quarter. Engineers Gate Manager LP now owns 46,433 shares of the company's stock worth $115,000 after acquiring an additional 7,002 shares during the last quarter. 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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