Raymond James Financial Inc. Buys New Stake in NET Power Inc. (NYSE:NPWR)

Raymond James Financial Inc. purchased a new position in shares of NET Power Inc. (NYSE:NPWR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 119,397 shares of the company’s stock, valued at approximately $1,264,000. Raymond James Financial Inc. owned approximately 0.06% of NET Power as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NPWR. Charles Schwab Investment Management Inc. lifted its stake in NET Power by 24.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 244,852 shares of the company’s stock worth $1,716,000 after acquiring an additional 48,165 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in NET Power during the third quarter worth about $82,000. MetLife Investment Management LLC lifted its position in shares of NET Power by 129.1% during the third quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock worth $91,000 after purchasing an additional 7,281 shares in the last quarter. State Street Corp boosted its stake in shares of NET Power by 11.8% in the third quarter. State Street Corp now owns 369,281 shares of the company’s stock valued at $2,589,000 after purchasing an additional 38,910 shares during the period. Finally, Barclays PLC grew its holdings in shares of NET Power by 276.7% in the third quarter. Barclays PLC now owns 27,883 shares of the company’s stock valued at $196,000 after purchasing an additional 20,481 shares in the last quarter. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup upgraded NET Power from a “neutral” rating to a “buy” rating and decreased their target price for the company from $14.00 to $6.00 in a report on Tuesday, March 11th. Barclays decreased their price objective on NET Power from $11.00 to $3.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th.

NET Power Stock Performance

NPWR opened at $2.50 on Thursday. NET Power Inc. has a one year low of $2.28 and a one year high of $14.28. The company has a market cap of $544.07 million, a P/E ratio of -3.73 and a beta of 0.07. The business’s 50-day simple moving average is $6.13 and its 200-day simple moving average is $8.33.

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.