NET Power (NYSE:NPWR) Announces Earnings Results

NET Power (NYSE:NPWR) posted its quarterly earnings data on Monday. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05), Zacks reports.

NET Power Trading Up 0.8%

Shares of NYSE NPWR traded up $0.02 during mid-day trading on Monday, reaching $2.02. The company had a trading volume of 806,756 shares, compared to its average volume of 769,343. The business’s 50-day moving average is $1.76 and its 200-day moving average is $2.33. The stock has a market cap of $452.20 million, a price-to-earnings ratio of -0.28 and a beta of 1.03. NET Power has a 52 week low of $1.46 and a 52 week high of $5.20.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of NET Power in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.50.

Insiders Place Their Bets

In related news, major shareholder 8 Rivers Capital, Llc sold 100,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $2.04, for a total value of $204,000.00. Following the completion of the sale, the insider directly owned 400,000 shares of the company’s stock, valued at $816,000. This represents a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 800,000 shares of company stock valued at $1,655,548 over the last ninety days. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NET Power

Hedge funds and other institutional investors have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC bought a new position in shares of NET Power during the fourth quarter valued at approximately $25,000. Invesco Ltd. bought a new position in shares of NET Power during the second quarter valued at approximately $25,000. Sei Investments Co. bought a new position in shares of NET Power during the second quarter valued at approximately $32,000. Quantbot Technologies LP bought a new position in shares of NET Power during the third quarter valued at approximately $39,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of NET Power by 48.7% during the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock valued at $40,000 after purchasing an additional 5,255 shares in the last quarter. 53.62% of the stock is currently owned by institutional investors.

About NET Power

NET Power, Inc is an energy technology company focused on developing and commercializing power generation plants that burn natural gas and other fuels with near-zero carbon emissions. The company’s core innovation is the proprietary Allam-Fetvedt Cycle, a supercritical carbon dioxide power cycle that captures all carbon dioxide produced during combustion without the need for separate carbon capture systems. By integrating gas combustion, heat exchange and carbon dioxide separation into a single closed-loop process, NET Power aims to deliver baseload power with efficiencies and emissions profiles competitive with conventional and renewable generation sources.

Since demonstrating its first full-scale Allam-Cycle facility in La Porte, Texas, NET Power has moved from pilot operation toward commercial deployment.