NET Power (NYSE:NPWR) Shares Up 8.7% - Here's Why

Key Points

• NET Power Inc. shares experienced an 8.7% increase in trading on Thursday, closing at $2.43 after previously closing at $2.24.
• The company reported a quarterly earnings per share (EPS) of ($0.36), missing analysts' expectations by ($0.24).
• 53.62% of NET Power stock is owned by institutional investors, with JPMorgan and Deutsche Bank significantly increasing their stakes recently.

NET Power Inc. (NYSE:NPWR - Get Free Report)'s share price shot up 8.7% during mid-day trading on Thursday . The stock traded as high as $2.38 and last traded at $2.43. 128,013 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,307,444 shares. The stock had previously closed at $2.24.

NET Power Stock Up 5.5%

The stock has a market cap of $564.06 million, a price-to-earnings ratio of -1.09 and a beta of 0.71. The company's 50-day simple moving average is $2.57 and its 200-day simple moving average is $2.46.

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

Institutional Trading of NET Power

Large investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in shares of NET Power in the second quarter worth $25,000. Invesco Ltd. purchased a new stake in shares of NET Power in the second quarter worth approximately $25,000. Sei Investments Co. acquired a new stake in shares of NET Power during the second quarter worth approximately $32,000. Deutsche Bank AG grew its position in NET Power by 63.0% during 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 in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in NET Power by 48.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company's stock valued at $40,000 after buying an additional 5,255 shares during the period. 53.62% of the stock is 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.