NET Power (NYSE:NPWR) Trading 4.3% Higher - Still a Buy?

Key Points

• NET Power's stock rose 4.3% to $2.55, despite trading volume decreasing by 52% compared to its average.
• Barclays downgraded NET Power's rating from "equal weight" to "underweight" and lowered its price target from $3.00 to $2.00.
• The company reported a significant earnings miss for the last quarter, with an EPS of ($0.36) compared to analysts' expectations of ($0.12).

NET Power Inc. (NYSE:NPWR - Get Free Report) shot up 4.3% during mid-day trading on Tuesday . The stock traded as high as $2.50 and last traded at $2.55. 660,843 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 1,378,608 shares. The stock had previously closed at $2.44.

Wall Street Analysts Forecast Growth

Separately, Barclays downgraded shares of NET Power from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $3.00 to $2.00 in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, NET Power presently has an average rating of "Moderate Buy" and a consensus target price of $4.00.

NET Power Stock Performance

The stock has a market cap of $557.53 million, a price-to-earnings ratio of -1.08 and a beta of 0.72. The firm's 50-day moving average price is $2.71 and its two-hundred day moving average price is $3.35.

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

Institutional Investors Weigh In On NET Power

Hedge funds have recently made changes to their positions in the business. LPL Financial LLC lifted its position in NET Power by 15.0% during the 4th quarter. LPL Financial LLC now owns 14,036 shares of the company's stock worth $149,000 after acquiring an additional 1,832 shares in the last quarter. Nebula Research & Development LLC raised its stake in NET Power by 26.0% during the fourth quarter. Nebula Research & Development LLC now owns 19,107 shares of the company's stock worth $202,000 after acquiring an additional 3,945 shares during the period. Barclays PLC boosted its holdings in shares of NET Power by 16.0% in the fourth quarter. Barclays PLC now owns 32,351 shares of the company's stock valued at $342,000 after acquiring an additional 4,468 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of NET Power by 48.7% in the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company's stock valued at $40,000 after acquiring an additional 5,255 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in NET Power by 63.0% in the 1st 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. 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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