Jane Street Group LLC Decreases Stock Holdings in NET Power Inc. (NYSE:NPWR)

Jane Street Group LLC lowered its position in NET Power Inc. (NYSE:NPWR) by 38.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 24,029 shares of the company’s stock after selling 15,160 shares during the period. Jane Street Group LLC’s holdings in NET Power were worth $168,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Encompass Capital Advisors LLC acquired a new stake in shares of NET Power during the 2nd quarter worth about $20,537,000. Marshall Wace LLP boosted its stake in shares of NET Power by 226.9% in the 2nd quarter. Marshall Wace LLP now owns 583,688 shares of the company’s stock valued at $5,738,000 after buying an additional 405,128 shares during the period. Khrom Capital Management LLC lifted its stake in NET Power by 9.6% during the second quarter. Khrom Capital Management LLC now owns 440,596 shares of the company’s stock worth $4,331,000 after purchasing an additional 38,500 shares during the last quarter. HITE Hedge Asset Management LLC lifted its stake in NET Power by 2.6% during the third quarter. HITE Hedge Asset Management LLC now owns 387,624 shares of the company’s stock worth $2,717,000 after purchasing an additional 9,987 shares during the last quarter. Finally, State Street Corp lifted its stake in 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 buying an additional 38,910 shares during the last quarter. 53.62% of the stock is owned by institutional investors and hedge funds.

NET Power Stock Down 5.7 %

Shares of NPWR stock opened at $9.18 on Tuesday. The business’s fifty day moving average price is $10.91 and its 200 day moving average price is $9.22. NET Power Inc. has a 1-year low of $6.57 and a 1-year high of $14.28.

NET Power (NYSE:NPWR) last posted its earnings results on Tuesday, November 12th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.17. During the same period in the previous year, the company earned ($0.44) EPS. As a group, equities research analysts anticipate that NET Power Inc. will post -0.4 EPS for the current year.

Insider Activity

In other NET Power news, CFO Akash S. Patel sold 150,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $12.65, for a total value of $1,897,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder 8 Rivers Capital, Llc sold 320,371 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $12.60, for a total value of $4,036,674.60. Following the completion of the transaction, the insider now owns 940,049 shares in the company, valued at approximately $11,844,617.40. This trade represents a 25.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,418,998 shares of company stock worth $15,119,290 over the last three months. 2.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, US Capital Advisors upgraded NET Power to a “strong-buy” rating in a research note on Monday, October 28th.

NET Power Company 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.