NET Power Inc. (NYSE:NPWR) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in NET Power Inc. (NYSE:NPWR) by 21.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 646,584 shares of the company’s stock after purchasing an additional 115,189 shares during the quarter. Geode Capital Management LLC owned 0.30% of NET Power worth $4,535,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NPWR. Dynamic Technology Lab Private Ltd acquired a new stake in shares of NET Power in the third quarter valued at about $82,000. MetLife Investment Management LLC grew its holdings in shares of NET Power by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock worth $91,000 after acquiring an additional 7,281 shares during the period. XTX Topco Ltd purchased a new position in NET Power in the 2nd quarter valued at approximately $133,000. B. Riley Wealth Advisors Inc. purchased a new stake in NET Power during the second quarter worth $136,000. Finally, ELCO Management Co. LLC boosted its position in shares of NET Power by 13.4% in the 2nd quarter. ELCO Management Co. LLC now owns 20,924 shares of the company’s stock worth $206,000 after buying an additional 2,474 shares in the last quarter. Institutional investors and hedge funds own 53.62% of the company’s stock.

NET Power Stock Up 4.2 %

NET Power stock opened at $11.24 on Monday. NET Power Inc. has a 12-month low of $6.57 and a 12-month high of $14.28. The firm’s 50-day moving average is $10.80 and its two-hundred day moving average is $9.24.

NET Power (NYSE:NPWR) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.17. During the same period last year, the firm posted ($0.44) EPS. On average, research analysts anticipate that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other NET Power news, CFO Akash S. Patel sold 150,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $12.65, for a total transaction of $1,897,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder 8 Rivers Capital, Llc sold 517,618 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $7.12, for a total value of $3,685,440.16. Following the sale, the insider now owns 199,369 shares of the company’s stock, valued at $1,419,507.28. This represents a 72.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,662,089 shares of company stock valued at $16,805,157. Insiders own 2.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NPWR. US Capital Advisors upgraded shares of NET Power to a “strong-buy” rating in a report on Monday, October 28th. Citigroup reduced their target price on NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th.

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.