CenterBook Partners LP Acquires 599,725 Shares of NET Power Inc. $NPWR

CenterBook Partners LP increased its holdings in shares of NET Power Inc. (NYSE:NPWR) by 48.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,848,073 shares of the company’s stock after acquiring an additional 599,725 shares during the quarter. CenterBook Partners LP owned about 0.83% of NET Power worth $4,214,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Goldman Sachs Group Inc. increased its position in NET Power by 9.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 303,662 shares of the company’s stock worth $692,000 after acquiring an additional 25,237 shares during the period. Integrity Alliance LLC. bought a new position in NET Power during the fourth quarter worth about $40,000. Argentarii LLC increased its position in NET Power by 413.0% during the fourth quarter. Argentarii LLC now owns 263,507 shares of the company’s stock worth $601,000 after acquiring an additional 212,142 shares during the period. Thompson Davis & CO. Inc. bought a new position in NET Power during the fourth quarter worth about $41,000. Finally, JPMorgan Chase & Co. increased its position in NET Power by 1,226.9% during the third quarter. JPMorgan Chase & Co. now owns 212,929 shares of the company’s stock worth $641,000 after acquiring an additional 196,882 shares during the period. 53.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NPWR has been the topic of a number of recent research reports. Wall Street Zen lowered shares of NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings lowered shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.50.

NET Power Trading Down 0.3%

Shares of NET Power stock opened at $1.66 on Tuesday. The firm has a market capitalization of $371.42 million, a PE ratio of -0.28 and a beta of 1.04. The firm’s 50 day moving average is $1.82 and its 200 day moving average is $2.13. NET Power Inc. has a 1 year low of $1.46 and a 1 year high of $5.20.

NET Power (NYSE:NPWR) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.05).

Insider Activity

In related news, major shareholder 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $2.43, for a total transaction of $85,050.00. Following the sale, the insider directly owned 2,965,000 shares of the company’s stock, valued at approximately $7,204,950. The trade was a 1.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.06% of the company’s stock.

About NET Power

NET Power, Inc is an energy technology company focused on developing and commercializing power generation plants that burn natural gas and other fuels with near-zero carbon emissions. The company’s core innovation is the proprietary Allam-Fetvedt Cycle, a supercritical carbon dioxide power cycle that captures all carbon dioxide produced during combustion without the need for separate carbon capture systems. By integrating gas combustion, heat exchange and carbon dioxide separation into a single closed-loop process, NET Power aims to deliver baseload power with efficiencies and emissions profiles competitive with conventional and renewable generation sources.

Since demonstrating its first full-scale Allam-Cycle facility in La Porte, Texas, NET Power has moved from pilot operation toward commercial deployment.