NET Power (NYSE:NPWR) Trading Down 4.5% – Time to Sell?

Shares of NET Power Inc. (NYSE:NPWR) dropped 4.5% on Wednesday . The stock traded as low as $12.28 and last traded at $12.34. Approximately 191,531 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 399,700 shares. The stock had previously closed at $12.92.

Wall Street Analyst Weigh In

NPWR has been the subject of several research analyst reports. Barclays cut their price objective on NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, August 14th. Citigroup cut their price objective on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, US Capital Advisors upgraded shares of NET Power to a “strong-buy” rating in a report on Monday, October 28th.

NET Power Price Performance

The company’s 50-day moving average is $8.56 and its 200 day moving average is $9.18.

NET Power (NYSE:NPWR) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.17. During the same quarter in the previous year, the business earned ($0.44) earnings per share. As a group, research analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at NET Power

In other news, major shareholder Npeh, Llc sold 120,500 shares of NET Power stock in a transaction on Friday, October 11th. The stock was sold at an average price of $6.92, for a total transaction of $833,860.00. Following the transaction, the insider now owns 716,987 shares in the company, valued at $4,961,550.04. The trade was a 14.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder 8 Rivers Capital, Llc sold 8,871 shares of NET Power stock in a transaction on Monday, October 7th. The stock was sold at an average price of $7.01, for a total value of $62,185.71. Following the transaction, the insider now owns 960,078 shares in the company, valued at approximately $6,730,146.78. This represents a 0.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,525,200 shares of company stock valued at $12,716,360 in the last 90 days. 2.71% of the stock is currently owned by company insiders.

Institutional Trading of NET Power

Several institutional investors and hedge funds have recently bought and sold shares of NPWR. Dynamic Technology Lab Private Ltd acquired a new position in NET Power in the third quarter valued at approximately $82,000. MetLife Investment Management LLC increased its stake in shares of NET Power by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock valued at $91,000 after acquiring an additional 7,281 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of NET Power during the 2nd quarter worth about $133,000. B. Riley Wealth Advisors Inc. purchased a new position in NET Power in the 2nd quarter worth approximately $136,000. Finally, Quest Partners LLC purchased a new position in NET Power in the 3rd quarter worth approximately $153,000. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

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.