NET Power (NYSE:NPWR) Upgraded to Sell at Wall Street Zen

Wall Street Zen upgraded shares of NET Power (NYSE:NPWR) from a strong sell rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

NPWR has been the topic of a number of other reports. 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. Zacks Research upgraded shares of NET Power to a “hold” rating in a research note on Tuesday, September 15th. Finally, 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. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $3.38.

NET Power Trading Down 0.7%

NYSE:NPWR traded down $0.01 on Friday, hitting $0.76. 719,478 shares of the stock were exchanged, compared to its average volume of 491,753. The stock has a market cap of $169.77 million, a PE ratio of -0.61 and a beta of 1.25. The stock has a fifty day moving average of $1.28 and a 200-day moving average of $1.66. NET Power has a fifty-two week low of $0.68 and a fifty-two week high of $3.02.

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

Insider Activity at NET Power

In other news, major shareholder 8 Rivers Capital, Llc sold 201,550 shares of the company’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 completion of the sale, the insider owned 1,041,350 shares of the company’s stock, valued at $1,988,978.50. This represents a 16.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 492,900 shares of company stock worth $933,939 in the last 90 days. Insiders own 2.06% of the company’s stock.

Institutional Investors Weigh In On NET Power

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised 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 in the last quarter. Janney Montgomery Scott LLC boosted its stake in NET Power by 10.2% during the 1st 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 last quarter. Marshall Wace LLP bought a new position in NET Power during the 3rd quarter valued at $63,000. Bank of New York Mellon Corp bought a new position in NET Power during the 2nd quarter valued at $140,000. Finally, SIR Capital Management L.P. acquired a new position in NET Power during the 2nd quarter worth $183,000. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

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.