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) was down 14.4% during mid-day trading on Tuesday following a dissappointing earnings announcement. 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) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.24).

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC bought a new position in shares of NET Power in the second quarter worth approximately $25,000. Deutsche Bank AG lifted 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 worth $37,000 after buying an additional 5,429 shares in the last quarter. JPMorgan Chase & Co. lifted its position in NET Power by 48.7% during 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. Covestor Ltd bought a new position in NET Power during the fourth quarter valued at approximately $43,000. Finally, Legacy Advisors LLC bought a new position in NET Power during the first quarter valued at approximately $43,000. Institutional investors own 53.62% of the company's stock.

NET Power Price Performance

The company has a market cap of $548.77 million, a P/E ratio of -1.22 and a beta of 0.72. The stock's 50-day moving average is $2.71 and its two-hundred day moving average is $3.56.

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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