NET Power (NYSE:NPWR) Rating Lowered to Strong Sell at Wall Street Zen

NET Power (NYSE:NPWR) was downgraded by stock analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Saturday.

Separately, Weiss Ratings cut shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, NET Power has an average rating of “Hold” and an average price target of $3.50.

NET Power Stock Performance

NPWR opened at $1.55 on Friday. The firm has a market cap of $348.97 million, a P/E ratio of -0.26 and a beta of 1.06. NET Power has a 52-week low of $1.45 and a 52-week high of $5.20. The business’s fifty day moving average is $1.80 and its 200-day moving average is $1.95.

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

Insider Activity

In other news, major shareholder 8 Rivers Capital, Llc sold 400,000 shares of NET Power stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $2.44, for a total transaction of $976,000.00. Following the transaction, the insider owned 3,000,000 shares in the company, valued at approximately $7,320,000. The trade was a 11.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.06% of the company’s stock.

Institutional Trading of NET Power

A number of institutional investors and hedge funds have recently bought and sold shares of NPWR. Adage Capital Partners GP L.L.C. raised its position in NET Power by 16.4% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock worth $7,015,000 after purchasing an additional 400,000 shares during the last quarter. CenterBook Partners LP grew its position in shares of NET Power by 48.0% in the 4th quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock valued at $4,214,000 after buying an additional 599,725 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of NET Power by 21.4% in the second quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock valued at $2,078,000 after buying an additional 148,307 shares during the period. Two Sigma Investments LP increased its stake in shares of NET Power by 36.7% in the third quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock valued at $2,474,000 after buying an additional 220,831 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of NET Power by 644.0% during the first quarter. Renaissance Technologies LLC now owns 703,800 shares of the company’s stock worth $1,098,000 after acquiring an additional 609,200 shares during the last quarter. 53.62% of the stock is currently owned by institutional investors and hedge funds.

NET Power Company Profile

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.