NET Power (NYSE:NPWR) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

NET Power (NYSE:NPWR) issued its quarterly earnings results on Thursday. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03), FiscalAI reports.

NET Power Stock Performance

Shares of NYSE NPWR traded down $0.08 during trading on Thursday, hitting $0.76. 662,014 shares of the company were exchanged, compared to its average volume of 497,409. NET Power has a 12-month low of $0.75 and a 12-month high of $3.25. The firm has a market capitalization of $169.77 million, a PE ratio of 0.18 and a beta of 1.25. The company has a fifty day moving average price of $1.30 and a 200-day moving average price of $1.67.

Insiders Place Their Bets

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 507,100 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $1.95, for a total value of $988,845.00. Following the transaction, the insider directly owned 1,242,900 shares in the company, valued at $2,423,655. The trade was a 28.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 1,000,000 shares of company stock valued at $1,922,784. Insiders own 2.06% of the company’s stock.

Analyst Ratings Changes

NPWR has been the topic of a number of research reports. Wall Street Zen lowered NET Power from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. Zacks Research raised shares of NET Power to a “hold” rating in a report on Tuesday, September 15th. Weiss Ratings cut shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 22nd. Finally, Northland Securities initiated coverage on shares of NET Power in a research report on Monday, September 14th. They issued an “outperform” rating and a $2.75 target price for the company. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.25.

NET Power Company Profile

NET Power, Inc. develops power-generation technology designed to produce electricity from natural gas while capturing carbon dioxide. Its system, known as the NET Power Cycle, burns natural gas with oxygen in a high-pressure carbon dioxide working fluid, generating electricity and a concentrated stream of carbon dioxide for capture and potential transport, storage or use. The company’s activities include developing and commercializing its technology and advancing projects for its deployment. Rather than operating as a conventional utility, NET Power focuses on enabling power plants that use its system.