NET Power (NYSE:NPWR) Shares Gap Up – Still a Buy?

NET Power Inc. (NYSE:NPWR) shares gapped up prior to trading on Friday . The stock had previously closed at $12.99, but opened at $13.40. NET Power shares last traded at $13.72, with a volume of 247,980 shares changing hands.

Analysts Set New Price Targets

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

NET Power Stock Up 2.1 %

The stock has a 50 day simple moving average of $9.15 and a 200 day simple moving average of $9.24.

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

Insider Activity

In related news, major shareholder Npeh, Llc sold 66,825 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $7.88, for a total value of $526,581.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash S. Patel sold 150,000 shares of NET Power stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $12.65, for a total transaction of $1,897,500.00. The disclosure for this sale can be found here. Insiders sold 2,106,209 shares of company stock worth $20,113,535 over the last three months. 2.71% of the stock is currently owned by insiders.

Institutional Trading of NET Power

Several institutional investors and hedge funds have recently made changes to their positions in NPWR. Barclays PLC grew its position in NET Power by 276.7% in the 3rd quarter. Barclays PLC now owns 27,883 shares of the company’s stock worth $196,000 after purchasing an additional 20,481 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of NET Power by 21.7% in the third quarter. Geode Capital Management LLC now owns 646,584 shares of the company’s stock valued at $4,535,000 after acquiring an additional 115,189 shares in the last quarter. State Street Corp grew its holdings in shares of NET Power by 11.8% in the third quarter. State Street Corp now owns 369,281 shares of the company’s stock valued at $2,589,000 after acquiring an additional 38,910 shares in the last quarter. HITE Hedge Asset Management LLC boosted its position in NET Power by 2.6% in the third quarter. HITE Hedge Asset Management LLC now owns 387,624 shares of the company’s stock worth $2,717,000 after purchasing an additional 9,987 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in NET Power by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock valued at $91,000 after purchasing an additional 7,281 shares during the period. Hedge funds and other institutional investors 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.