NET Power (NYSE:NPWR) Stock Jumps 1.2% - Still a Buy?

Key Points

• NET Power shares rose 1.2% to about $1.245, though the stock remains below its 50-day and 200-day moving averages of $1.67 and $1.71, respectively.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $3.25; Northland Securities is notably more bullish, assigning an “Outperform” rating and a $2.75 target.
• The company reported a significant quarterly earnings miss, posting a loss of $0.91 per share versus a consensus loss of $0.07. Insiders have also sold more than 2 million shares over the past 90 days, while institutional investors own 53.62% of the stock.

NET Power Inc. (NYSE:NPWR - Get Free Report)'s share price shot up 1.2% during trading on Thursday. The company traded as high as $1.27 and last traded at $1.2450. 590,727 shares changed hands during trading, an increase of 9% from the average daily volume of 541,428 shares. The stock had previously closed at $1.23.

Analyst Ratings Changes

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

NET Power Stock Performance

The firm has a market capitalization of $279.95 million, a P/E ratio of -0.19 and a beta of 1.16. The stock has a 50 day moving average of $1.67 and a 200-day moving average of $1.71.

NET Power (NYSE:NPWR - Get Free Report) last issued its 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, sell-side analysts expect that NET Power Inc. will post -1.14 EPS for the current year.

Insider Activity at NET Power

In related news, major shareholder 8 Rivers Capital, Llc sold 150,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $1.84, for a total value of $276,000.00. Following the completion of the transaction, the insider directly owned 750,000 shares of the company's stock, valued at approximately $1,380,000. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 2,005,858 shares of company stock worth $3,460,668. Corporate insiders own 2.06% of the company's stock.

Institutional Investors Weigh In On NET Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Securities Group LLC bought a new position in shares of NET Power in the first quarter worth $30,000. Bank of America Corp DE grew its position in shares of NET Power by 40.1% in the first quarter. Bank of America Corp DE now owns 35,083 shares of the company's stock valued at $55,000 after purchasing an additional 10,034 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of NET Power during the 2nd quarter valued at $140,000. SIR Capital Management L.P. purchased a new stake in NET Power during the 2nd quarter worth about $183,000. Finally, Janney Montgomery Scott LLC lifted its holdings in NET Power by 10.2% during the 1st 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. Institutional investors own 53.62% of the company's stock.

About NET Power

NET Power, Inc develops technology for generating reliable electricity from natural gas while capturing carbon dioxide emissions. Its proprietary Allam-Fetvedt Cycle uses carbon dioxide as the working fluid in a high-pressure power-generation process, enabling the production of electricity and a concentrated carbon dioxide stream that can be transported for utilization or permanent storage.

The company's technology is designed to support low-emissions, dispatchable power generation and can be integrated with carbon capture, utilization and storage systems.

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