NET Power (NYSE:NPWR) Sets New 52-Week High – Still a Buy?

NET Power Inc. (NYSE:NPWR)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $14.23 and last traded at $13.99, with a volume of 230597 shares changing hands. The stock had previously closed at $12.84.

Analysts Set New Price Targets

NPWR has been the subject of a number of research reports. Citigroup reduced their price target on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. US Capital Advisors upgraded NET Power to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Barclays dropped their price target on NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 14th.

NET Power Stock Performance

The company has a 50-day moving average of $8.02 and a 200-day moving average of $9.11.

Insiders Place Their Bets

In other news, major shareholder 8 Rivers Capital, Llc sold 517,618 shares of NET Power stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $7.12, for a total transaction of $3,685,440.16. Following the completion of the sale, the insider now directly owns 199,369 shares in the company, valued at $1,419,507.28. The trade was a 72.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Npeh, Llc sold 66,825 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $7.88, for a total transaction of $526,581.00. Following the completion of the transaction, the insider now directly owns 189,329 shares of the company’s stock, valued at approximately $1,491,912.52. This represents a 26.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,204,829 shares of company stock valued at $8,679,686. Corporate insiders own 2.71% of the company’s stock.

Institutional Investors Weigh In On NET Power

Several hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new stake in NET Power in the 3rd quarter worth about $82,000. MetLife Investment Management LLC boosted its position in shares of NET Power by 129.1% in the third quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock worth $91,000 after acquiring an additional 7,281 shares during the last quarter. K2 Principal Fund L.P. acquired a new stake in shares of NET Power in the first quarter worth approximately $148,000. XTX Topco Ltd purchased a new stake in NET Power in the second quarter valued at approximately $133,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in NET Power during the second quarter worth approximately $136,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

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.