NET Power Inc. (NYSE:NPWR) Stock Rated “Hold” by Wall Street Brokerages

NET Power Inc. (NYSE:NPWR) has been assigned a consensus rating of “Hold” from the five research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $3.25.

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of NET Power from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. Northland Securities assumed coverage on shares of NET Power in a research report on Monday, September 14th. They issued an “outperform” rating and a $2.75 price objective for the company. Weiss Ratings downgraded shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 22nd. Finally, Zacks Research raised shares of NET Power to a “hold” rating in a research note on Tuesday, September 15th.

Insider Buying and Selling

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 201,550 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $1.91, for a total value of $384,960.50. Following the sale, the insider directly owned 1,041,350 shares of the company’s stock, valued at approximately $1,988,978.50. This trade represents a 16.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 492,900 shares of company stock valued at $933,939 in the last ninety days. Corporate insiders own 2.06% of the company’s stock.

Institutional Investors Weigh In On NET Power

A number of institutional investors have recently bought and sold shares of the stock. Summit Securities Group LLC acquired a new position in shares of NET Power in the 1st quarter valued at $30,000. Bank of America Corp DE boosted its holdings in NET Power by 40.1% in the first quarter. Bank of America Corp DE now owns 35,083 shares of the company’s stock valued at $55,000 after acquiring an additional 10,034 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in NET Power in the second quarter valued at $140,000. SIR Capital Management L.P. acquired a new position in NET Power in the second quarter valued at $183,000. Finally, Janney Montgomery Scott LLC grew its position in NET Power by 10.2% during the first quarter. Janney Montgomery Scott LLC now owns 133,000 shares of the company’s stock valued at $207,000 after acquiring an additional 12,351 shares during the period. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

NET Power Trading Down 9.3%

Shares of NPWR opened at $0.76 on Friday. NET Power has a 12-month low of $0.75 and a 12-month high of $3.25. The company has a 50-day moving average of $1.30 and a two-hundred day moving average of $1.67. The stock has a market cap of $169.77 million, a P/E ratio of -0.12 and a beta of 1.25.

NET Power (NYSE:NPWR) last released its quarterly earnings results on Thursday, November 12th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). As a group, analysts forecast that NET Power will post -1.14 EPS for the current fiscal year.

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.