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NET Power (NYSE:NPWR) Stock Price Up 10.1% - Here's Why

NET Power logo with Energy background

Shares of NET Power Inc. (NYSE:NPWR - Get Free Report) rose 10.1% during trading on Tuesday . The stock traded as high as $2.29 and last traded at $2.29. Approximately 810,838 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 862,513 shares. The stock had previously closed at $2.08.

Analyst Ratings Changes

NPWR has been the subject of several recent analyst reports. Citigroup raised shares of NET Power from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $14.00 to $6.00 in a research note on Tuesday, March 11th. 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.

Read Our Latest Research Report on NET Power

NET Power Trading Up 4.0%

The stock has a market capitalization of $542.20 million, a PE ratio of -1.20 and a beta of 0.64. The company's 50 day simple moving average is $2.03 and its 200 day simple moving average is $5.22.

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

Hedge Funds Weigh In On NET Power

A number of hedge funds have recently made changes to their positions in NPWR. Handelsbanken Fonder AB acquired a new position in shares of NET Power in the 4th quarter valued at $175,000. Bank of New York Mellon Corp boosted its holdings in shares of 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 purchasing an additional 16,135 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of NET Power in the 4th quarter valued at $181,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of NET Power by 12.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 275,812 shares of the company's stock valued at $2,921,000 after purchasing an additional 30,960 shares during the last quarter. Finally, Kapstone Financial Advisors LLC acquired a new position in shares of NET Power in the 4th quarter valued at $184,000. Institutional investors and hedge funds own 53.62% of the company's stock.

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.

Further Reading

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