NET Power (NYSE:NPWR) Posts Earnings Results, Misses Expectations By $0.84 EPS

NET Power (NYSE:NPWR) issued its earnings results on Thursday. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.84), FiscalAI reports.

NET Power Price Performance

Shares of NPWR stock traded down $0.01 during midday trading on Thursday, reaching $1.62. 905,005 shares of the company traded hands, compared to its average volume of 779,549. NET Power has a 1-year low of $1.35 and a 1-year high of $5.20. The firm’s 50 day simple moving average is $1.61 and its two-hundred day simple moving average is $1.81. The firm has a market cap of $364.68 million, a PE ratio of -0.28 and a beta of 1.07.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NPWR shares. Wall Street Zen cut NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. Weiss Ratings upgraded NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.50.

Insider Activity

In related news, major shareholder 8 Rivers Capital, Llc sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $1.60, for a total transaction of $56,000.00. Following the sale, the insider owned 2,000,000 shares in the company, valued at approximately $3,200,000. This trade represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 755,858 shares of company stock worth $1,132,384. 2.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On NET Power

A number of large investors have recently modified their holdings of NPWR. Jain Global LLC purchased a new position in shares of NET Power in the 4th quarter valued at $57,000. Barclays PLC boosted its position in NET Power by 14.6% in the 4th quarter. Barclays PLC now owns 54,750 shares of the company’s stock valued at $125,000 after buying an additional 6,970 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of NET Power by 57.3% during the 4th quarter. Wells Fargo & Company MN now owns 49,245 shares of the company’s stock valued at $112,000 after buying an additional 17,931 shares during the last quarter. Sig Brokerage LP boosted its stake in shares of NET Power by 50.3% during the 3rd quarter. Sig Brokerage LP now owns 24,298 shares of the company’s stock valued at $73,000 after buying an additional 8,130 shares during the last quarter. Finally, Brooklyn Investment Group grew its stake in NET Power by 2,113.1% in the third quarter. Brooklyn Investment Group now owns 27,000 shares of the company’s stock worth $81,000 after purchasing an additional 25,780 shares in the last quarter. 53.62% of the stock is currently owned by hedge funds and other 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.