NET Power (NYSE:NPWR) Stock Price Up 8.1% - Here's Why

NET Power Inc. (NYSE:NPWR - Get Free Report)'s share price rose 8.1% during trading on Monday . The stock traded as high as $3.02 and last traded at $3.02. Approximately 878,597 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 975,428 shares. The stock had previously closed at $2.79.

Analyst Ratings Changes

Separately, Barclays lowered 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 report on Wednesday, April 23rd.

NET Power Stock Down 5.0%

The stock has a market cap of $601.35 million, a price-to-earnings ratio of -1.33 and a beta of 0.70. The business has a 50-day moving average of $2.46 and a 200-day moving average of $4.20.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in 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 during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of NET Power during the fourth quarter worth $1,264,000. Bank of America Corp DE raised its stake in NET Power by 42.8% during the 4th quarter. Bank of America Corp DE now owns 23,263 shares of the company's stock worth $246,000 after buying an additional 6,975 shares during the period. Geode Capital Management LLC boosted its stake in NET Power by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 658,563 shares of the company's stock worth $6,976,000 after purchasing an additional 11,979 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in NET Power by 32.1% in the 4th quarter. Bank of New York Mellon Corp now owns 66,411 shares of the company's stock valued at $703,000 after buying an additional 16,135 shares during the last quarter. Institutional investors and hedge funds own 53.62% of the company's stock.

About NET Power

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.