NET Power (NYSE:NPWR) Trading Down 6.5% - Here's What Happened

Shares of NET Power Inc. (NYSE:NPWR - Get Free Report) traded down 6.5% on Monday . The company traded as low as $2.72 and last traded at $2.95. 622,873 shares were traded during trading, a decline of 31% from the average session volume of 896,912 shares. The stock had previously closed at $3.15.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Barclays lowered NET Power from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $3.00 to $2.00 in a research report on Wednesday, April 23rd. Citigroup upgraded NET Power from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $14.00 to $6.00 in a research report on Tuesday, March 11th.

NET Power Stock Performance

The stock has a market capitalization of $738.27 million, a price-to-earnings ratio of -1.64 and a beta of 0.70. The company has a fifty day simple moving average of $2.16 and a 200 day simple moving average of $4.80.

NET Power (NYSE:NPWR - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($1.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($1.44). As a group, equities analysts predict that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of NET Power

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of NET Power by 13.1% in the fourth 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. Adage Capital Partners GP L.L.C. grew its holdings in shares of NET Power by 481.0% in the first 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 acquiring an additional 2,020,000 shares in the last quarter. CenterBook Partners LP grew its holdings in shares of NET Power by 1,655.5% in the first quarter. CenterBook Partners LP now owns 1,744,770 shares of the company's stock valued at $4,589,000 after acquiring an additional 1,645,380 shares in the last quarter. HITE Hedge Asset Management LLC grew its holdings in shares of NET Power by 80.6% in the first 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 in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of NET Power by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 658,563 shares of the company's stock valued at $6,976,000 after acquiring an additional 11,979 shares in the last quarter. 53.62% of the stock is owned by hedge funds and other institutional investors.

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.