NET Power (NYSE:NPWR) Stock Price Down 7.3% - Time to Sell?

Key Points

• NET Power Inc. stock fell 7.3% to a trading low of $4.36, with an unusually low trading volume of 407,054 shares compared to an average of 1.4 million.
• Analysts have assigned mixed ratings to NET Power, with one Strong Buy, one Buy, and two Sell ratings, resulting in an average rating of "Hold" and a consensus target price of $4.00.
• The company reported a quarterly loss of ($0.36) earnings per share, missing estimates by ($0.24) and is projected to have negative earnings for the fiscal year.

Shares of NET Power Inc. (NYSE:NPWR - Get Free Report) dropped 7.3% on Thursday . The stock traded as low as $4.36 and last traded at $4.49. Approximately 407,054 shares were traded during trading, a decline of 71% from the average daily volume of 1,400,091 shares. The stock had previously closed at $4.85.

Analyst Ratings Changes

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 assigned a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $4.00.

NET Power Price Performance

The firm has a market cap of $928.41 million, a price-to-earnings ratio of -1.79 and a beta of 0.75. The business's 50-day moving average price is $2.82 and its two-hundred day moving average price is $2.50.

NET Power (NYSE:NPWR - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.24). Equities analysts predict that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NET Power

A number of hedge funds have recently added to or reduced their stakes in NPWR. Legacy Advisors LLC acquired a new position in NET Power in the first quarter worth $43,000. XTX Topco Ltd boosted its holdings in NET Power by 129.3% in the first quarter. XTX Topco Ltd now owns 138,198 shares of the company's stock worth $363,000 after purchasing an additional 77,929 shares during the period. Deutsche Bank AG boosted its holdings in 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 purchasing an additional 5,429 shares during the period. CenterBook Partners LP boosted its holdings in NET Power by 1,655.5% in the first quarter. CenterBook Partners LP now owns 1,744,770 shares of the company's stock worth $4,589,000 after purchasing an additional 1,645,380 shares during the period. Finally, Nuveen LLC acquired a new position in NET Power in the first quarter worth $136,000. Institutional investors and hedge funds own 53.62% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.