NET Power (NYSE:NPWR) Shares Up 11.9% - Still a Buy?

Key Points

• NET Power Inc. shares surged 11.9% to $3.75 amid trading, despite a significant drop in volume.
• Wall Street analysts have mixed opinions on NET Power, with ratings ranging from Strong Buy to Sell, and an average price target of $4.00.
• Recent insider activity saw major shareholder 8 Rivers Capital sell 222,641 shares, reducing their ownership by 5.57% amid ongoing interest from institutional investors.

NET Power Inc. (NYSE:NPWR - Get Free Report)'s stock price shot up 11.9% during mid-day trading on Thursday . The company traded as high as $3.72 and last traded at $3.75. 654,661 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 1,414,426 shares. The stock had previously closed at $3.35.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of NET Power in a report on Wednesday, October 8th. One 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 stock. According to MarketBeat.com, NET Power has an average rating of "Hold" and a consensus price target of $4.00.

NET Power Price Performance

The firm has a market capitalization of $759.60 million, a price-to-earnings ratio of -1.47 and a beta of 0.75. The firm's 50-day simple moving average is $2.91 and its 200 day simple moving average is $2.54.

NET Power (NYSE:NPWR - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.24). As a group, research analysts predict that NET Power Inc. will post -0.4 earnings per share for the current year.

Insider Activity

In other news, major shareholder 8 Rivers Capital, Llc sold 222,641 shares of the company's stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $4.86, for a total transaction of $1,082,035.26. Following the completion of the transaction, the insider directly owned 3,777,359 shares in the company, valued at approximately $18,357,964.74. This represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 715,900 shares of company stock worth $2,830,181 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NPWR. SG Americas Securities LLC bought a new stake in shares of NET Power in the third quarter worth $105,000. Engineers Gate Manager LP grew its stake in shares of NET Power by 17.8% in the second quarter. Engineers Gate Manager LP now owns 46,433 shares of the company's stock worth $115,000 after purchasing an additional 7,002 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of NET Power by 16.4% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company's stock worth $7,015,000 after purchasing an additional 400,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of NET Power by 44.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company's stock worth $46,000 after purchasing an additional 5,739 shares during the last quarter. Finally, Caption Management LLC grew its stake in shares of NET Power by 619.8% in the second quarter. Caption Management LLC now owns 401,899 shares of the company's stock worth $993,000 after purchasing an additional 346,068 shares during the last quarter. 53.62% of the stock is currently owned by institutional investors and hedge funds.

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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