Barclays Upgrades NET Power (NYSE:NPWR) to “Equal Weight”

NET Power (NYSE:NPWR) was upgraded by equities researchers at Barclays from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Friday, MarketBeat.com reports.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.00.

NET Power Trading Down 4.6%

Shares of NET Power stock opened at $2.82 on Friday. The firm has a market capitalization of $617.10 million, a PE ratio of -0.37 and a beta of 0.78. NET Power has a twelve month low of $1.48 and a twelve month high of $14.12. The firm’s 50-day moving average price is $3.27 and its 200 day moving average price is $2.72.

NET Power (NYSE:NPWR) last posted its quarterly earnings data on Thursday, November 13th. The company reported $5.84 EPS for the quarter, topping the consensus estimate of ($0.16) by $6.00. On average, sell-side analysts predict that NET Power will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 786,832 shares of the business’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $4.12, for a total transaction of $3,241,747.84. Following the transaction, the insider owned 1,973,000 shares of the company’s stock, valued at approximately $8,128,760. The trade was a 28.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 2,179,463 shares of company stock worth $8,639,384 in the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. increased its stake in NET Power by 16.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock worth $7,015,000 after acquiring an additional 400,000 shares during the last quarter. CenterBook Partners LP grew its holdings in shares of NET Power by 1,655.5% during the 1st quarter. CenterBook Partners LP now owns 1,744,770 shares of the company’s stock worth $4,589,000 after purchasing an additional 1,645,380 shares during the period. Geode Capital Management LLC grew its holdings in shares of NET Power by 21.4% during the 2nd quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock worth $2,078,000 after purchasing an additional 148,307 shares during the period. Two Sigma Investments LP increased its position in shares of NET Power by 36.7% during the 3rd quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock worth $2,474,000 after purchasing an additional 220,831 shares during the last quarter. Finally, HITE Hedge Asset Management LLC raised its holdings in NET Power by 80.6% in the 1st quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company’s stock valued at $1,955,000 after buying an additional 331,726 shares during the period. 53.62% of the stock is currently owned by institutional investors and hedge funds.

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.