Shares of NET Power Inc. (NYSE:NPWR - Get Free Report) rose 7.5% during trading on Tuesday . The company traded as high as $3.25 and last traded at $3.23. Approximately 280,118 shares traded hands during trading, a decline of 69% from the average daily volume of 899,904 shares. The stock had previously closed at $3.00.
Wall Street Analyst Weigh In
Separately, Barclays downgraded shares of NET Power from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $3.00 to $2.00 in a research note on Wednesday, April 23rd.
Check Out Our Latest Report on NET Power
NET Power Price Performance
The firm has a 50 day moving average of $2.28 and a 200-day moving average of $4.69. The stock has a market capitalization of $727.31 million, a P/E ratio of -1.61 and a beta of 0.70.
NET Power (NYSE:NPWR - Get Free Report) last issued its 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). As a group, equities analysts expect that NET Power Inc. will post -0.4 earnings per share for the current year.
Institutional Trading of NET Power
Several institutional investors have recently made changes to their positions in NPWR. Adage Capital Partners GP L.L.C. lifted 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 worth $6,417,000 after buying an additional 2,020,000 shares during the period. CenterBook Partners LP grew its stake in NET Power by 1,655.5% during the first quarter. CenterBook Partners LP now owns 1,744,770 shares of the company's stock worth $4,589,000 after buying an additional 1,645,380 shares during the last quarter. 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 valued at $30,345,000 after acquiring an additional 332,554 shares during the last quarter. HITE Hedge Asset Management LLC increased its holdings 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 purchasing an additional 331,726 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in NET Power by 930.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 141,958 shares of the company's stock worth $1,505,000 after purchasing an additional 128,187 shares in the last quarter. 53.62% of the stock is currently owned by institutional investors and hedge funds.
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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