NET Power (NYSE:NPWR) Shares Down 6.3% - Should You Sell?

Shares of NET Power Inc. (NYSE:NPWR - Get Free Report) dropped 6.3% during trading on Tuesday . The stock traded as low as $2.74 and last traded at $2.72. Approximately 607,285 shares changed hands during trading, a decline of 38% from the average daily volume of 975,822 shares. The stock had previously closed at $2.90.

Analyst Upgrades and Downgrades

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

NET Power Price Performance

The company's 50 day simple moving average is $2.46 and its 200 day simple moving average is $4.20. The stock has a market cap of $614.05 million, a P/E ratio of -1.36 and a beta of 0.70.

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

Institutional Trading of NET Power

Hedge funds have recently bought and sold shares of the stock. Covestor Ltd bought a new position in NET Power in the fourth quarter valued at approximately $43,000. Janney Montgomery Scott LLC bought a new stake in shares of NET Power in the second quarter worth $25,000. National Bank of Canada FI lifted its position in shares of NET Power by 2,727.0% in the fourth quarter. National Bank of Canada FI now owns 11,930 shares of the company's stock worth $126,000 after purchasing an additional 11,508 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of NET Power in the fourth quarter worth $137,000. Finally, Mariner LLC bought a new stake in shares of NET Power in the fourth quarter worth $139,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.

NET Power Company Profile

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.