NET Power (NYSE:NPWR) Stock Falls 4.1% - Here's What Happened

Key Points

• NET Power shares fell 4.1% to $0.83, with trading volume 30% below its daily average.
• The company reported a quarterly loss of $0.91 per share, missing analyst expectations of a $0.07 loss by $0.84.
• Analyst opinions are mixed, with an overall Hold rating and an average price target of $3.25; meanwhile, insiders sold about 1.4 million shares over the past 90 days.

NET Power Inc. (NYSE:NPWR - Get Free Report)'s share price fell 4.1% during trading on Wednesday. The stock traded as low as $0.8211 and last traded at $0.83. 403,780 shares traded hands during trading, a decline of 30% from the average daily volume of 576,140 shares. The stock had previously closed at $0.8658.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings lowered NET Power from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, September 22nd. Northland Securities assumed coverage on NET Power in a research report on Monday, September 14th. They issued an "outperform" rating and a $2.75 target price on the stock. Wall Street Zen cut NET Power from a "sell" rating to a "strong sell" rating in a research report on Saturday, July 18th. Finally, Zacks Research raised shares of NET Power to a "hold" rating in a research note on Tuesday, September 15th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $3.25.

NET Power Stock Performance

The company has a 50 day simple moving average of $1.42 and a two-hundred day simple moving average of $1.72. The company has a market cap of $186.63 million, a PE ratio of -0.13 and a beta of 1.25.

NET Power (NYSE:NPWR - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.91) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.84). As a group, analysts expect that NET Power Inc. will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 507,100 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $1.95, for a total transaction of $988,845.00. Following the transaction, the insider directly owned 1,242,900 shares of the company's stock, valued at $2,423,655. This represents a 28.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 1,400,745 shares of company stock worth $2,562,482 over the last 90 days. Corporate insiders own 2.06% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NPWR. Tidal Investments LLC lifted its holdings in shares of NET Power by 190.0% during the second quarter. Tidal Investments LLC now owns 1,546,562 shares of the company's stock worth $2,583,000 after buying an additional 1,013,309 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of NET Power by 644.0% during the 1st quarter. Renaissance Technologies LLC now owns 703,800 shares of the company's stock valued at $1,098,000 after acquiring an additional 609,200 shares in the last quarter. MRA Advisory Group bought a new stake in NET Power in the third quarter valued at about $320,000. Janney Montgomery Scott LLC raised its position in NET Power by 10.2% in the first quarter. Janney Montgomery Scott LLC now owns 133,000 shares of the company's stock worth $207,000 after purchasing an additional 12,351 shares in the last quarter. Finally, SIR Capital Management L.P. bought a new position in NET Power during the second quarter worth about $183,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.

NET Power Company Profile

NET Power Inc is a clean-energy technology company developing power-generation systems designed to produce electricity while capturing carbon dioxide emissions. Its proprietary Allam-Fetvedt Cycle uses high-pressure carbon dioxide as the working fluid in a closed-loop process, enabling the company's systems to generate power from natural gas with carbon capture integrated into the plant design.

The company's technology is intended to produce electricity, pipeline-quality carbon dioxide and water, while avoiding the conventional emissions associated with fossil-fuel power generation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.