NET Power (NYSE:NPWR) Stock Price Up 8.1% - Still a Buy?

Key Points

• NET Power's stock rose 8.1% during mid-day trading, reaching a last traded price of $2.91, although the volume was down 52% compared to the average daily trading volume.
• Barclays downgraded NET Power from an "equal weight" rating to an "underweight" rating, reducing their price target from $3.00 to $2.00.
• The company reported a significant earnings miss for the last quarter, with earnings per share of ($1.55) compared to analysts' consensus estimate of ($0.11).

NET Power Inc. (NYSE:NPWR - Get Free Report) rose 8.1% during mid-day trading on Monday . The company traded as high as $2.88 and last traded at $2.91. Approximately 659,986 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 1,363,880 shares. The stock had previously closed at $2.69.

Analysts Set New Price Targets

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

NET Power Trading Up 8.0%

The firm has a market cap of $636.40 million, a price-to-earnings ratio of -1.41 and a beta of 0.72. The business's 50-day simple moving average is $2.69 and its two-hundred day simple moving average is $3.61.

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

Institutional Trading of NET Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. grew its position in shares of NET Power by 481.0% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,440,000 shares of the company's stock worth $6,417,000 after buying an additional 2,020,000 shares during the period. CenterBook Partners LP lifted its holdings in shares of NET Power by 1,655.5% in the 1st 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 in the last quarter. Vanguard Group Inc. lifted its holdings in shares of NET Power by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 2,865,402 shares of the company's stock worth $30,345,000 after purchasing an additional 332,554 shares in the last quarter. HITE Hedge Asset Management LLC lifted its holdings in shares of NET Power by 80.6% in the 1st quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company's stock worth $1,955,000 after purchasing an additional 331,726 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in NET Power by 21.4% during the 2nd quarter. Geode Capital Management LLC now owns 841,060 shares of the company's stock valued at $2,078,000 after acquiring an additional 148,307 shares in the last quarter. 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.

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