NET Power (NYSE:NPWR) Stock Price Up 11.1% - Time to Buy?

Key Points

• NET Power Inc. shares rose by 11.1% on Wednesday, trading between $2.91 and $3.17, despite a significant decline in trading volume.
• Barclays reduced its rating on the stock from "equal weight" to "underweight" and lowered the price target from $3.00 to $2.00.
• The company reported a quarterly earnings miss with an EPS of ($1.55), falling short of analysts' expectations by ($1.44).

NET Power Inc. (NYSE:NPWR - Get Free Report) shares were up 11.1% during mid-day trading on Wednesday . The company traded as high as $2.91 and last traded at $3.17. Approximately 135,152 shares traded hands during trading, a decline of 90% from the average daily volume of 1,349,652 shares. The stock had previously closed at $2.85.

Analyst Ratings Changes

Separately, Barclays cut NET Power from an "equal weight" rating to an "underweight" rating and dropped their price objective for the stock from $3.00 to $2.00 in a report on Wednesday, April 23rd.

NET Power Trading Down 7.5%

The business has a fifty day moving average of $2.59 and a 200-day moving average of $3.96. The firm has a market cap of $583.82 million, a PE ratio of -1.29 and a beta of 0.70.

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

Institutional Trading of NET Power

Several institutional investors and hedge funds have recently modified their holdings of NPWR. Janney Montgomery Scott LLC purchased a new stake in shares of NET Power in the 2nd quarter valued at about $25,000. Deutsche Bank AG raised its holdings in shares of NET Power by 63.0% in the 1st quarter. Deutsche Bank AG now owns 14,051 shares of the company's stock valued at $37,000 after acquiring an additional 5,429 shares in the last quarter. Covestor Ltd purchased a new stake in shares of NET Power in the 4th quarter valued at about $43,000. Legacy Advisors LLC purchased a new stake in shares of NET Power in the 1st quarter valued at about $43,000. Finally, National Bank of Canada FI raised its holdings in shares of NET Power by 2,727.0% in the 4th quarter. National Bank of Canada FI now owns 11,930 shares of the company's stock valued at $126,000 after acquiring an additional 11,508 shares in the last 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.