Man Group plc Acquires New Position in NET Power Inc. (NYSE:NPWR)

Man Group plc bought a new stake in shares of NET Power Inc. (NYSE:NPWR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 100,686 shares of the company’s stock, valued at approximately $1,066,000.

Other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd purchased a new position in NET Power during the 4th quarter valued at about $43,000. Janney Montgomery Scott LLC purchased a new position in shares of NET Power in the 4th quarter worth approximately $108,000. National Bank of Canada FI grew its position in shares of NET Power by 2,727.0% in the 4th quarter. National Bank of Canada FI now owns 11,930 shares of the company’s stock worth $126,000 after buying an additional 11,508 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of NET Power in the 4th quarter worth approximately $137,000. Finally, Mariner LLC purchased a new position in shares of NET Power in the 4th quarter worth approximately $139,000. Hedge funds and other institutional investors own 53.62% of the company’s stock.

NET Power Stock Up 3.6%

Shares of NET Power stock opened at $1.59 on Friday. NET Power Inc. has a 52-week low of $1.48 and a 52-week high of $14.28. The company has a market cap of $347.22 million, a P/E ratio of -0.77 and a beta of 0.51. The firm’s 50 day moving average price is $2.13 and its 200-day moving average price is $6.77.

NET Power (NYSE:NPWR) last issued its quarterly earnings results on Monday, May 12th. The company reported ($1.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.44). As a group, equities research analysts forecast that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NPWR has been the topic of a number of analyst reports. Citigroup raised shares of NET Power from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $14.00 to $6.00 in a research report on Tuesday, March 11th. Barclays downgraded shares of NET Power from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $3.00 to $2.00 in a research report on Wednesday, April 23rd.

NET Power 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.