NET Power (NYSE:NPWR) Shares Up 7.5% - Here's Why

NET Power Inc. (NYSE:NPWR - Get Free Report) shares shot up 7.5% during mid-day trading on Tuesday . The stock traded as high as $3.25 and last traded at $3.23. 280,118 shares were traded during mid-day trading, a decline of 69% from the average session volume of 899,904 shares. The stock had previously closed at $3.00.

Analysts Set New Price Targets

Several brokerages have issued reports on NPWR. Barclays downgraded NET Power from an "equal weight" rating to an "underweight" rating and cut their price objective for the company 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 cut their price objective for the company from $14.00 to $6.00 in a research report on Tuesday, March 11th.

NET Power Trading Up 3.8%

The company has a 50 day moving average price of $2.19 and a 200 day moving average price of $4.79. The company has a market capitalization of $722.92 million, a price-to-earnings ratio of -1.60 and a beta of 0.70.

NET Power (NYSE:NPWR - Get Free Report) last released its 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). Equities analysts predict that NET Power Inc. will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On NET Power

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of NET Power by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 2,865,402 shares of the company's stock valued at $30,345,000 after buying an additional 332,554 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in shares of NET Power by 481.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 2,440,000 shares of the company's stock worth $6,417,000 after purchasing an additional 2,020,000 shares during the period. CenterBook Partners LP grew its stake in shares of 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 purchasing an additional 1,645,380 shares during the period. HITE Hedge Asset Management LLC grew its stake in shares of NET Power by 80.6% during the first quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company's stock worth $1,955,000 after purchasing an additional 331,726 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of NET Power by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 658,563 shares of the company's stock worth $6,976,000 after purchasing an additional 11,979 shares during the period. 53.62% of the stock is owned by institutional investors and hedge funds.

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.