NET Power (NYSE:NPWR) Stock Price Down 14.4% on Disappointing Earnings

Key Points

• NET Power Inc. saw a significant drop in stock price, down **14.4%** to $2.47, following a disappointing earnings report that revealed a loss of **($0.36)** per share, missing expectations by **($0.24)**.
• Barclays has downgraded the stock from **"equal weight"** to **"underweight"** and set a new price target of **$2.00**, down from **$3.00**.
• Institutional investors hold **53.62%** of NET Power's stock, with notable changes including Deutsche Bank increasing its stake by **63%** during the first quarter.

NET Power Inc. (NYSE:NPWR - Get Free Report)'s stock price dropped 14.4% during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $2.40 and last traded at $2.47. Approximately 437,704 shares changed hands during trading, a decline of 68% from the average daily volume of 1,362,720 shares. The stock had previously closed at $2.88.

The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.24).

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On NET Power

A number of large investors have recently bought and sold shares of the business. LPL Financial LLC lifted its holdings in NET Power by 15.0% in the fourth quarter. LPL Financial LLC now owns 14,036 shares of the company's stock worth $149,000 after acquiring an additional 1,832 shares during the last quarter. Nebula Research & Development LLC increased its stake in shares of NET Power by 26.0% in the fourth quarter. Nebula Research & Development LLC now owns 19,107 shares of the company's stock valued at $202,000 after purchasing an additional 3,945 shares during the period. Barclays PLC increased its stake in shares of NET Power by 16.0% in the fourth quarter. Barclays PLC now owns 32,351 shares of the company's stock valued at $342,000 after purchasing an additional 4,468 shares during the period. JPMorgan Chase & Co. increased its stake in shares of NET Power by 48.7% in the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company's stock valued at $40,000 after purchasing an additional 5,255 shares during the period. Finally, Deutsche Bank AG increased its stake 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 purchasing an additional 5,429 shares during the period. Institutional investors own 53.62% of the company's stock.

NET Power Stock Down 4.4%

The firm's 50 day simple moving average is $2.71 and its 200 day simple moving average is $3.47. The company has a market cap of $521.38 million, a price-to-earnings ratio of -1.01 and a beta of 0.72.

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.