NET Power (NYSE:NPWR) Stock Price Down 8.5% - What's Next?

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) shares dropped 8.5% during mid-day trading on Friday . The stock traded as low as $2.60 and last traded at $2.64. Approximately 1,282,722 shares were traded during trading, a decline of 7% from the average daily volume of 1,381,742 shares. The stock had previously closed at $2.88.

Wall Street Analyst Weigh In

Separately, Barclays cut shares of NET Power from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $3.00 to $2.00 in a research note on Wednesday, April 23rd.

NET Power Stock Performance

The firm's 50 day simple moving average is $2.61 and its 200-day simple moving average is $3.85. The company has a market cap of $596.97 million, a price-to-earnings ratio of -1.32 and a beta of 0.72.

NET Power (NYSE:NPWR - Get Free Report) last posted its quarterly 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). As a group, sell-side analysts expect that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new position in shares of NET Power during the 2nd quarter worth $25,000. Deutsche Bank AG raised its holdings in shares of NET Power by 63.0% during the 1st quarter. Deutsche Bank AG now owns 14,051 shares of the company's stock worth $37,000 after acquiring an additional 5,429 shares during the period. Covestor Ltd purchased a new position in shares of NET Power during the 4th quarter worth $43,000. Legacy Advisors LLC purchased a new position in shares of NET Power during the 1st quarter worth $43,000. Finally, National Bank of Canada FI raised its holdings in NET Power by 2,727.0% in the 4th quarter. National Bank of Canada FI now owns 11,930 shares of the company's stock valued at $126,000 after buying an additional 11,508 shares during the period. 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.