NET Power (NYSE:NPWR) Shares Down 4.3% – Here’s Why

NET Power Inc. (NYSE:NPWR) fell 4.3% on Wednesday . The stock traded as low as $8.93 and last traded at $9.23. 186,520 shares changed hands during trading, a decline of 64% from the average session volume of 521,723 shares. The stock had previously closed at $9.65.

Wall Street Analyst Weigh In

Separately, US Capital Advisors raised NET Power to a “strong-buy” rating in a report on Monday, October 28th.

NET Power Price Performance

The company’s 50-day simple moving average is $10.82 and its 200-day simple moving average is $9.21.

NET Power (NYSE:NPWR) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.17. During the same quarter in the prior year, the firm posted ($0.44) earnings per share. Equities research analysts predict that NET Power Inc. will post -0.4 earnings per share for the current year.

Insider Activity

In related news, CFO Akash S. Patel sold 150,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $12.65, for a total value of $1,897,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder 8 Rivers Capital, Llc sold 320,371 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $12.60, for a total transaction of $4,036,674.60. Following the sale, the insider now directly owns 940,049 shares in the company, valued at $11,844,617.40. This trade represents a 25.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 901,380 shares of company stock valued at $11,433,849. Company insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd bought a new position in shares of NET Power during the 3rd quarter worth about $82,000. MetLife Investment Management LLC raised its stake in NET Power by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock worth $91,000 after buying an additional 7,281 shares during the period. Janney Montgomery Scott LLC bought a new position in NET Power in the fourth quarter worth approximately $108,000. XTX Topco Ltd acquired a new stake in NET Power in the second quarter valued at approximately $133,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of NET Power during the second quarter valued at approximately $136,000. 53.62% of the stock is owned by institutional investors and hedge funds.

About NET Power

NET Power Inc operates as a clean energy technology company. The company invents, develops, and licenses clean power generation technology. NET Power Inc was founded in 2010 and is headquartered in Durham, North Carolina.