NET Power (NYSE:NPWR) Shares Down 7.3% – Should You Sell?

NET Power Inc. (NYSE:NPWR)’s stock price dropped 7.3% during mid-day trading on Monday . The company traded as low as $11.58 and last traded at $11.87. Approximately 247,840 shares traded hands during trading, a decline of 41% from the average daily volume of 416,773 shares. The stock had previously closed at $12.81.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays reduced their price objective 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. Citigroup reduced their price target on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, US Capital Advisors upgraded shares of NET Power to a “strong-buy” rating in a research report on Monday, October 28th.

NET Power Stock Down 6.3 %

The company has a fifty day moving average of $9.26 and a 200 day moving average of $9.23.

NET Power (NYSE:NPWR) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.17. During the same quarter in the prior year, the company posted ($0.44) EPS. On average, analysts forecast 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 company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $12.65, for a total transaction of $1,897,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 8 Rivers Capital, Llc sold 80,122 shares of NET Power stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $7.02, for a total transaction of $562,456.44. Following the transaction, the insider now directly owns 342,364 shares of the company’s stock, valued at $2,403,395.28. The trade was a 18.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,106,209 shares of company stock worth $20,113,535 over the last quarter. 2.71% of the stock is currently owned by corporate insiders.

Institutional Trading of NET Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of NET Power by 276.7% during the third quarter. Barclays PLC now owns 27,883 shares of the company’s stock valued at $196,000 after buying an additional 20,481 shares during the period. Geode Capital Management LLC boosted its stake in shares of NET Power by 21.7% during the third quarter. Geode Capital Management LLC now owns 646,584 shares of the company’s stock valued at $4,535,000 after purchasing an additional 115,189 shares in the last quarter. State Street Corp increased its holdings in NET Power by 11.8% during 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 period. HITE Hedge Asset Management LLC raised its stake in NET Power by 2.6% in the third quarter. HITE Hedge Asset Management LLC now owns 387,624 shares of the company’s stock worth $2,717,000 after buying an additional 9,987 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in 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 buying an additional 7,281 shares during the period. 53.62% of the stock is owned by hedge funds and other institutional investors.

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.