Thomist Capital Management LP Invests $1.07 Million in NET Power Inc. (NYSE:NPWR)

Thomist Capital Management LP purchased a new stake in NET Power Inc. (NYSE:NPWR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 112,729 shares of the company’s stock, valued at approximately $1,073,000. NET Power accounts for about 0.4% of Thomist Capital Management LP’s investment portfolio, making the stock its 28th largest holding. Thomist Capital Management LP owned approximately 0.05% of NET Power at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NPWR. Williams Jones Wealth Management LLC. purchased a new stake in NET Power during the 1st quarter worth about $128,000. K2 Principal Fund L.P. bought a new stake in shares of NET Power during the first quarter valued at about $148,000. Neuberger Berman Group LLC purchased a new stake in shares of NET Power in the fourth quarter worth about $163,000. Jump Financial LLC bought a new position in shares of NET Power in the fourth quarter valued at approximately $197,000. Finally, Swiss National Bank bought a new position in shares of NET Power in the fourth quarter valued at approximately $275,000. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

NET Power Trading Down 4.4 %

Shares of NPWR opened at $6.72 on Thursday. NET Power Inc. has a 12-month low of $6.57 and a 12-month high of $16.34. The stock has a 50-day moving average price of $8.51 and a 200-day moving average price of $9.69.

NET Power (NYSE:NPWR) last announced its earnings results on Monday, August 12th. The company reported ($0.06) earnings per share for the quarter. The company had revenue of $0.24 million for the quarter. As a group, research analysts expect that NET Power Inc. will post -0.4 earnings per share for the current year.

Insider Transactions at NET Power

In related news, major shareholder Npeh, Llc sold 83,325 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $8.10, for a total value of $674,932.50. Following the completion of the transaction, the insider now directly owns 416,675 shares in the company, valued at $3,375,067.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 269,419 shares of company stock valued at $2,080,519. Insiders own 2.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on NPWR shares. Citigroup lowered their target price on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Barclays decreased their price target on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 14th.

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.