NET Power (NYSE:NPWR) Announces Quarterly Earnings Results, Misses Estimates By $0.84 EPS

NET Power (NYSE:NPWR) announced its quarterly earnings results on Thursday. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.84), FiscalAI reports.

NET Power Stock Performance

NYSE NPWR traded down $0.01 on Thursday, hitting $1.62. 905,005 shares of the stock were exchanged, compared to its average volume of 779,549. NET Power has a 52-week low of $1.35 and a 52-week high of $5.20. The firm has a market capitalization of $364.68 million, a P/E ratio of -0.28 and a beta of 1.07. The stock has a fifty day moving average price of $1.61 and a two-hundred day moving average price of $1.81.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NPWR shares. Weiss Ratings raised NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. Wall Street Zen downgraded NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.50.

Insider Activity

In related news, major shareholder 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $1.60, for a total transaction of $56,000.00. Following the completion of the transaction, the insider directly owned 2,000,000 shares of the company’s stock, valued at approximately $3,200,000. The trade was a 1.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 755,858 shares of company stock valued at $1,132,384. 2.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NPWR. Schonfeld Strategic Advisors LLC purchased a new stake in shares of NET Power in the fourth quarter worth approximately $25,000. Invesco Ltd. purchased a new position in NET Power during the 2nd quarter valued at $25,000. Sei Investments Co. bought a new position in NET Power in the 2nd quarter valued at $32,000. Quantbot Technologies LP bought a new position in NET Power in the 3rd quarter valued at $39,000. Finally, JPMorgan Chase & Co. increased its stake in NET Power by 48.7% in the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock worth $40,000 after purchasing an additional 5,255 shares during the period. Institutional investors own 53.62% of the company’s stock.

NET Power Company Profile

NET Power, Inc is an energy technology company focused on developing and commercializing power generation plants that burn natural gas and other fuels with near-zero carbon emissions. The company’s core innovation is the proprietary Allam-Fetvedt Cycle, a supercritical carbon dioxide power cycle that captures all carbon dioxide produced during combustion without the need for separate carbon capture systems. By integrating gas combustion, heat exchange and carbon dioxide separation into a single closed-loop process, NET Power aims to deliver baseload power with efficiencies and emissions profiles competitive with conventional and renewable generation sources.

Since demonstrating its first full-scale Allam-Cycle facility in La Porte, Texas, NET Power has moved from pilot operation toward commercial deployment.