NET Power (NYSE:NPWR) Shares Up 5.1%

Shares of NET Power Inc. (NYSE:NPWR) shot up 5.1% during trading on Thursday . The company traded as high as $10.73 and last traded at $10.65. 25,865 shares were traded during mid-day trading, a decline of 92% from the average session volume of 333,515 shares. The stock had previously closed at $10.13.

Wall Street Analyst Weigh In

Separately, Barclays began coverage on NET Power in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $13.00 price target for the company.

NET Power Trading Down 5.9 %

The firm has a 50-day simple moving average of $10.62 and a 200 day simple moving average of $9.90.

NET Power (NYSE:NPWR) last announced its earnings results on Monday, May 13th. The company reported ($0.16) EPS for the quarter. As a group, equities research analysts forecast that NET Power Inc. will post -0.21 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Sk Inc. sold 2,500,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $10.04, for a total transaction of $25,100,000.00. Following the sale, the insider now owns 2,500,000 shares in the company, valued at approximately $25,100,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On NET Power

Hedge funds have recently bought and sold shares of the company. Greenlight Capital Inc. lifted its stake in NET Power by 5.5% during the 4th quarter. Greenlight Capital Inc. now owns 2,992,110 shares of the company’s stock valued at $30,220,000 after acquiring an additional 155,000 shares during the period. Vanguard Group Inc. increased its holdings in NET Power by 65.1% in the 1st quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock worth $27,617,000 after acquiring an additional 956,134 shares in the last quarter. Palo Duro Investment Partners LP increased its holdings in NET Power by 4.3% in the 4th quarter. Palo Duro Investment Partners LP now owns 139,417 shares of the company’s stock worth $1,408,000 after acquiring an additional 5,803 shares in the last quarter. Berylson Capital Partners LLC purchased a new stake in NET Power in the 4th quarter worth approximately $1,303,000. Finally, Shelton Capital Management purchased a new stake in NET Power in the 3rd quarter worth approximately $1,510,000. Institutional investors own 53.62% of the company’s stock.

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.