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NET Power (NYSE:NPWR) Shares Gap Up - Here's What Happened

NET Power logo with Energy background

Shares of NET Power Inc. (NYSE:NPWR - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $2.50, but opened at $2.61. NET Power shares last traded at $2.58, with a volume of 174,299 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Barclays lowered NET Power from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $3.00 to $2.00 in a research note on Wednesday, April 23rd. Citigroup raised shares of NET Power from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $14.00 to $6.00 in a research note on Tuesday, March 11th.

Read Our Latest Stock Report on NPWR

NET Power Trading Up 2.4%

The company's 50-day moving average price is $2.03 and its 200 day moving average price is $5.59.

NET Power (NYSE:NPWR - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($1.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($1.44). As a group, analysts forecast that NET Power Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of NET Power

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in NET Power by 13.1% during the 4th quarter. Vanguard Group Inc. now owns 2,865,402 shares of the company's stock worth $30,345,000 after purchasing an additional 332,554 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of NET Power by 176.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 155,088 shares of the company's stock valued at $1,642,000 after buying an additional 98,952 shares in the last quarter. Raymond James Financial Inc. acquired a new position in NET Power in the fourth quarter valued at $1,264,000. Handelsbanken Fonder AB purchased a new position in NET Power during the 4th quarter worth approximately $175,000. Finally, Geode Capital Management LLC grew its position in shares of NET Power by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 658,563 shares of the company's stock worth $6,976,000 after acquiring an additional 11,979 shares during the last quarter. Institutional investors and hedge funds own 53.62% of the company's stock.

NET Power Company Profile

(Get Free Report)

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.

Further Reading

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