NET Power (NYSE:NPWR) Posts Quarterly Earnings Results

NET Power (NYSE:NPWR) announced its quarterly earnings data on Monday. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.11), Zacks reports.

NET Power Price Performance

NET Power stock traded up $0.02 during trading hours on Tuesday, reaching $1.96. The stock had a trading volume of 333,708 shares, compared to its average volume of 820,326. The company has a fifty day simple moving average of $2.29 and a 200-day simple moving average of $2.71. NET Power has a 52 week low of $1.48 and a 52 week high of $5.20. The stock has a market cap of $434.28 million, a PE ratio of -0.26 and a beta of 0.84.

Insider Activity at NET Power

In other news, major shareholder 8 Rivers Capital, Llc sold 230,000 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $2.63, for a total transaction of $604,900.00. Following the completion of the sale, the insider directly owned 1,550,000 shares in the company, valued at approximately $4,076,500. This represents a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 2,015,000 shares of company stock worth $4,575,605 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On NET Power

Institutional investors have recently bought and sold shares of the stock. Invesco Ltd. bought a new stake in NET Power during the 2nd quarter valued at approximately $25,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of NET Power in the 4th quarter valued at approximately $25,000. Sei Investments Co. bought a new stake in shares of NET Power during the second quarter valued at approximately $32,000. Quantbot Technologies LP purchased a new stake in NET Power in the third quarter worth $39,000. Finally, JPMorgan Chase & Co. raised its holdings in NET Power by 48.7% in the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock worth $40,000 after purchasing an additional 5,255 shares in the last quarter. 53.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NPWR. Barclays upgraded shares of NET Power from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $2.00 to $3.00 in a research report on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a research report on Thursday, January 22nd. Finally, Citigroup reduced their price objective on NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, NET Power has an average rating of “Hold” and an average price target of $3.50.

NET Power Company Profile

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.