NET Power (NYSE:NPWR) Reaches New 12-Month Low – Here’s What Happened

Shares of NET Power Inc. (NYSE:NPWR) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.28 and last traded at $2.30, with a volume of 273695 shares trading hands. The stock had previously closed at $2.50.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Citigroup raised shares of NET Power from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $14.00 to $6.00 in a research note on Tuesday, March 11th. Barclays reduced their price target on NET Power from $11.00 to $3.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th.

NET Power Stock Down 9.8 %

The firm’s fifty day moving average is $6.13 and its two-hundred day moving average is $8.33. The firm has a market cap of $490.75 million, a P/E ratio of -3.37 and a beta of 0.47.

Hedge Funds Weigh In On NET Power

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd purchased a new stake in NET Power in the fourth quarter worth about $43,000. Dynamic Technology Lab Private Ltd bought a new position in shares of NET Power in the 3rd quarter worth approximately $82,000. MetLife Investment Management LLC lifted its stake in shares of NET Power by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock valued at $91,000 after purchasing an additional 7,281 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of NET Power during the fourth quarter valued at approximately $108,000. Finally, National Bank of Canada FI grew its stake in NET Power by 2,727.0% in the fourth quarter. National Bank of Canada FI now owns 11,930 shares of the company’s stock worth $126,000 after purchasing an additional 11,508 shares during the period. Hedge funds and other institutional investors own 53.62% of the company’s stock.

NET Power Company Profile

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.