NET Power (NYSE:NPWR) Sees Unusually-High Trading Volume

Shares of NET Power Inc. (NYSE:NPWR) saw unusually-strong trading volume on Thursday . Approximately 469,504 shares changed hands during mid-day trading, an increase of 34% from the previous session’s volume of 349,809 shares.The stock last traded at $7.10 and had previously closed at $6.72.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NPWR. Citigroup dropped their price target on NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Barclays lowered their target price on NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, August 14th.

NET Power Stock Performance

The stock’s 50 day simple moving average is $8.41 and its 200-day simple moving average is $9.66.

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

Insider Buying and Selling at NET Power

In related news, major shareholder Npeh, Llc sold 66,825 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $7.88, for a total transaction of $526,581.00. Following the sale, the insider now directly owns 189,329 shares of the company’s stock, valued at $1,491,912.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder 8 Rivers Capital, Llc sold 80,122 shares of NET Power stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $7.02, for a total value of $562,456.44. Following the sale, the insider now owns 342,364 shares of the company’s stock, valued at approximately $2,403,395.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Npeh, Llc sold 66,825 shares of NET Power stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $7.88, for a total transaction of $526,581.00. Following the completion of the sale, the insider now owns 189,329 shares in the company, valued at approximately $1,491,912.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 349,541 shares of company stock valued at $2,642,976. 2.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Williams Jones Wealth Management LLC. acquired a new position in NET Power during the first quarter worth $128,000. XTX Topco Ltd purchased a new stake in shares of NET Power during the 2nd quarter valued at approximately $133,000. B. Riley Wealth Advisors Inc. purchased a new position in NET Power in the second quarter worth approximately $136,000. K2 Principal Fund L.P. acquired a new stake in NET Power during the first quarter worth $148,000. Finally, Neuberger Berman Group LLC purchased a new stake in NET Power in the fourth quarter valued at $163,000. Hedge funds and other institutional investors own 53.62% of the company’s stock.

About NET Power

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.