NET Power Inc. (NYSE:NPWR) CFO Akash S. Patel Sells 7,359 Shares

NET Power Inc. (NYSE:NPWR) CFO Akash S. Patel sold 7,359 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $2.29, for a total transaction of $16,852.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

NET Power Stock Performance

Shares of NPWR opened at $2.15 on Monday. The firm’s 50-day simple moving average is $5.82 and its two-hundred day simple moving average is $8.28. NET Power Inc. has a fifty-two week low of $2.03 and a fifty-two week high of $14.28. The stock has a market cap of $466.81 million, a PE ratio of -3.20 and a beta of 0.47.

Institutional Investors Weigh In On NET Power

A number of institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in NET Power by 21.7% in the 3rd quarter. Geode Capital Management LLC now owns 646,584 shares of the company’s stock worth $4,535,000 after buying an additional 115,189 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in NET Power by 176.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 155,088 shares of the company’s stock worth $1,642,000 after purchasing an additional 98,952 shares during the last quarter. Raymond James Financial Inc. bought a new stake in NET Power in the 4th quarter worth approximately $1,264,000. Janney Montgomery Scott LLC purchased a new stake in NET Power during the 4th quarter valued at $108,000. Finally, Charles Schwab Investment Management Inc. increased its position in NET Power by 24.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 244,852 shares of the company’s stock valued at $1,716,000 after acquiring an additional 48,165 shares during the last quarter. Hedge funds and other institutional investors own 53.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on NPWR. Barclays cut their target price on shares of NET Power from $11.00 to $3.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Citigroup raised shares of NET Power from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $14.00 to $6.00 in a research note on Tuesday, March 11th.

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.