NET Power Inc. (NYSE:NPWR – Get Free Report)’s share price dropped 6.4% on Monday . The stock traded as low as $9.19 and last traded at $9.20. Approximately 250,650 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 366,479 shares. The stock had previously closed at $9.83.
Wall Street Analyst Weigh In
Separately, Barclays initiated coverage on shares of NET Power in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $13.00 price target on the stock.
NET Power Price Performance
The stock has a 50 day moving average of $10.59 and a 200 day moving average of $9.89.
NET Power (NYSE:NPWR – Get Free Report) last released its earnings results on Monday, May 13th. The company reported ($0.16) EPS for the quarter. On average, equities analysts forecast that NET Power Inc. will post -0.21 EPS for the current year.
Insider Activity at NET Power
In other NET Power news, major shareholder Sk Inc. sold 2,500,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $10.04, for a total transaction of $25,100,000.00. Following the completion of the sale, the insider now directly owns 2,500,000 shares in the company, valued at $25,100,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.71% of the stock is owned by insiders.
Institutional Trading of NET Power
Institutional investors have recently added to or reduced their stakes in the business. K2 Principal Fund L.P. purchased a new stake in shares of NET Power during the first quarter worth about $148,000. Vanguard Group Inc. boosted its holdings in shares of NET Power by 65.1% during the first quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock worth $27,617,000 after purchasing an additional 956,134 shares during the period. Williams Jones Wealth Management LLC. purchased a new stake in shares of NET Power during the first quarter worth about $128,000. Commonwealth Equity Services LLC boosted its holdings in shares of NET Power by 32.8% during the first quarter. Commonwealth Equity Services LLC now owns 63,821 shares of the company’s stock worth $727,000 after purchasing an additional 15,778 shares during the period. Finally, Palo Duro Investment Partners LP boosted its holdings in shares of NET Power by 4.3% during the fourth quarter. Palo Duro Investment Partners LP now owns 139,417 shares of the company’s stock worth $1,408,000 after purchasing an additional 5,803 shares during the period. 53.62% of the stock is currently owned by hedge funds and other institutional investors.
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.