Bank of New York Mellon Corp Acquires New Shares in NET Power Inc. (NYSE:NPWR)

Bank of New York Mellon Corp bought a new position in NET Power Inc. (NYSE:NPWR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 67,301 shares of the company’s stock, valued at approximately $662,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in NET Power by 65.1% during the first quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock valued at $27,617,000 after acquiring an additional 956,134 shares in the last quarter. Greenlight Capital Inc. raised its holdings in NET Power by 5.5% in the 4th quarter. Greenlight Capital Inc. now owns 2,992,110 shares of the company’s stock worth $30,220,000 after acquiring an additional 155,000 shares during the period. Berylson Capital Partners LLC bought a new position in shares of NET Power in the fourth quarter worth about $1,303,000. Swiss National Bank acquired a new position in shares of NET Power during the 4th quarter worth about $275,000. Finally, Jump Financial LLC bought a new stake in shares of NET Power in the fourth quarter valued at approximately $197,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Npeh, Llc sold 83,325 shares of NET Power stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $8.10, for a total value of $674,932.50. Following the completion of the sale, the insider now directly owns 416,675 shares in the company, valued at $3,375,067.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 80,122 shares of the 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 directly owns 342,364 shares in the company, valued at $2,403,395.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Npeh, Llc sold 83,325 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $8.10, for a total transaction of $674,932.50. Following the completion of the transaction, the insider now directly owns 416,675 shares of the company’s stock, valued at approximately $3,375,067.50. The disclosure for this sale can be found here. Insiders have sold a total of 349,541 shares of company stock worth $2,642,976 in the last 90 days. Corporate insiders own 2.71% of the company’s stock.

NET Power Stock Performance

NYSE:NPWR opened at $6.80 on Tuesday. The company’s 50-day moving average price is $8.35 and its two-hundred day moving average price is $9.67. NET Power Inc. has a 12 month low of $6.57 and a 12 month high of $15.87.

NET Power (NYSE:NPWR) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter. The business had revenue of $0.24 million during the quarter. As a group, analysts forecast that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on NPWR. Citigroup cut their target price on NET Power from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Barclays decreased their price target on NET Power from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note 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.