NET Power Inc. (NYSE:NPWR) CFO Akash S. Patel Sells 150,000 Shares

NET Power Inc. (NYSE:NPWR) CFO Akash S. Patel sold 150,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was 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 through this link.

NET Power Price Performance

NPWR traded down $0.84 on Tuesday, reaching $12.45. The stock had a trading volume of 974,514 shares, compared to its average volume of 416,287. The firm has a 50-day moving average of $8.80 and a 200-day moving average of $9.18. NET Power Inc. has a fifty-two week low of $6.57 and a fifty-two week high of $14.28.

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

Institutional Trading of NET Power

A number of institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC grew its holdings in NET Power by 276.7% during the third quarter. Barclays PLC now owns 27,883 shares of the company’s stock valued at $196,000 after purchasing an additional 20,481 shares during the period. Geode Capital Management LLC grew its holdings in NET Power by 21.7% during the third quarter. Geode Capital Management LLC now owns 646,584 shares of the company’s stock valued at $4,535,000 after purchasing an additional 115,189 shares during the period. State Street Corp grew its holdings in NET Power by 11.8% during the third quarter. State Street Corp now owns 369,281 shares of the company’s stock valued at $2,589,000 after purchasing an additional 38,910 shares during the period. HITE Hedge Asset Management LLC grew its holdings in NET Power by 2.6% during the third quarter. HITE Hedge Asset Management LLC now owns 387,624 shares of the company’s stock valued at $2,717,000 after purchasing an additional 9,987 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in NET Power by 129.1% during the third 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. 53.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Citigroup lowered their price target on NET Power from $11.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. US Capital Advisors raised NET Power to a “strong-buy” rating in a report on Monday, October 28th. Finally, Barclays lowered their target price on NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, August 14th.

NET Power Company Profile

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.