NET Power (NYSE:NPWR) Trading Down 8.5% - Here's Why

Key Points

• NET Power Inc. (NYSE:NPWR) saw its stock price drop by 8.5%, trading down to $2.64 after closing at $2.88.
• Barclays has downgraded NET Power from an "equal weight" rating to "underweight" and reduced the price target from $3.00 to $2.00.
• The company reported a significant earnings miss, with a loss of ($1.55) per share, compared to analysts' expectations of ($0.11).

NET Power Inc. (NYSE:NPWR - Get Free Report) traded down 8.5% during mid-day trading on Friday . The company traded as low as $2.60 and last traded at $2.64. 1,282,722 shares were traded during mid-day trading, a decline of 7% from the average session volume of 1,381,742 shares. The stock had previously closed at $2.88.

Analyst Ratings Changes

Separately, Barclays lowered NET Power from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $3.00 to $2.00 in a report on Wednesday, April 23rd.

NET Power Price Performance

The business has a fifty day simple moving average of $2.59 and a two-hundred day simple moving average of $3.96. The company has a market cap of $575.06 million, a PE ratio of -1.27 and a beta of 0.70.

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

Institutional Trading of NET Power

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC purchased a new stake in shares of NET Power during the 2nd quarter valued at $25,000. Adage Capital Partners GP L.L.C. lifted its holdings 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 purchasing an additional 2,020,000 shares during the last quarter. PDT Partners LLC purchased a new stake in shares of NET Power during the 1st quarter valued at $294,000. Caption Management LLC purchased a new stake in shares of NET Power during the 1st quarter valued at $147,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of NET Power during the 1st quarter valued at $126,000. Hedge funds and other institutional investors 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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