Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 56,136 NET Power Inc. (NYSE:NPWR)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of NET Power Inc. (NYSE:NPWR - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 56,136 shares of the company's stock, valued at approximately $394,000.

A number of other institutional investors have also modified their holdings of the stock. Pekin Hardy Strauss Inc. grew its position in NET Power by 5.4% during the second quarter. Pekin Hardy Strauss Inc. now owns 29,365 shares of the company's stock valued at $289,000 after buying an additional 1,500 shares during the period. ELCO Management Co. LLC grew its position in shares of NET Power by 13.4% during the 2nd quarter. ELCO Management Co. LLC now owns 20,924 shares of the company's stock valued at $206,000 after acquiring an additional 2,474 shares during the period. XTX Topco Ltd purchased a new position in shares of NET Power in the 2nd quarter valued at about $133,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of NET Power in the 2nd quarter valued at about $136,000. Finally, K2 Principal Fund L.P. raised its holdings in NET Power by 153.9% in the 2nd quarter. K2 Principal Fund L.P. now owns 33,037 shares of the company's stock worth $325,000 after purchasing an additional 20,026 shares during the period. Hedge funds and other institutional investors own 53.62% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. 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 research report on Wednesday, August 14th. Citigroup cut their price target on shares of NET Power from $11.00 to $8.00 and set a "neutral" rating for the company in a report on Thursday, September 12th. Finally, US Capital Advisors raised shares of NET Power to a "strong-buy" rating in a report on Monday, October 28th.

Insider Buying and Selling

In other news, CFO Akash S. Patel sold 150,000 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $12.65, for a total transaction of $1,897,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Npeh, Llc sold 66,825 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $7.88, for a total value of $526,581.00. Following the completion of the transaction, the insider now owns 189,329 shares of the company's stock, valued at $1,491,912.52. The trade was a 26.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,106,209 shares of company stock worth $20,113,535. 2.71% of the stock is owned by insiders.

NET Power Price Performance

Shares of NET Power stock traded down $0.18 during mid-day trading on Friday, reaching $12.81. 620,625 shares of the stock traded hands, compared to its average volume of 843,916. The business has a 50-day moving average of $9.26 and a 200 day moving average of $9.24. NET Power Inc. has a fifty-two week low of $6.57 and a fifty-two week high of $14.28.

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

NET Power 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.