Shares of NET Power Inc. (NYSE:NPWR - Get Free Report) were down 6.5% during mid-day trading on Monday . The company traded as low as $2.72 and last traded at $2.95. Approximately 622,873 shares traded hands during trading, a decline of 31% from the average daily volume of 896,912 shares. The stock had previously closed at $3.15.
Analyst Ratings Changes
Separately, Barclays cut NET Power from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $3.00 to $2.00 in a report on Wednesday, April 23rd.
Check Out Our Latest Analysis on NET Power
NET Power Price Performance
The firm has a 50-day simple moving average of $2.22 and a 200 day simple moving average of $4.78.
NET Power (NYSE:NPWR - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($1.55) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($1.44). On average, equities research analysts anticipate that NET Power Inc. will post -0.4 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. raised 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 valued at $6,417,000 after buying an additional 2,020,000 shares in the last quarter. PDT Partners LLC purchased a new position in NET Power during the 1st quarter valued at about $294,000. Caption Management LLC purchased a new position in NET Power during the 1st quarter valued at about $147,000. EntryPoint Capital LLC purchased a new position in NET Power during the 1st quarter valued at about $126,000. Finally, HITE Hedge Asset Management LLC lifted its position in NET Power by 80.6% during the 1st quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company's stock valued at $1,955,000 after acquiring an additional 331,726 shares during the period. 53.62% of the stock is owned by institutional investors.
NET Power Company Profile
(
Get Free Report)
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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