NET Power Inc. (NYSE:NPWR) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in NET Power Inc. (NYSE:NPWR - Free Report) by 21.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 646,584 shares of the company's stock after purchasing an additional 115,189 shares during the quarter. Geode Capital Management LLC owned about 0.30% of NET Power worth $4,535,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Encompass Capital Advisors LLC acquired a new position in NET Power during the 2nd quarter valued at approximately $20,537,000. Marshall Wace LLP increased its position in shares of NET Power by 226.9% in the 2nd quarter. Marshall Wace LLP now owns 583,688 shares of the company's stock valued at $5,738,000 after acquiring an additional 405,128 shares during the period. Thomist Capital Management LP purchased a new position in NET Power in the 2nd quarter worth $1,073,000. SIR Capital Management L.P. acquired a new stake in NET Power during the 2nd quarter worth about $971,000. Finally, Bank of New York Mellon Corp purchased a new stake in NET Power during the 2nd quarter valued at about $662,000. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NPWR. US Capital Advisors upgraded NET Power to a "strong-buy" rating in a research note on Monday, October 28th. Citigroup reduced their price target on shares of NET Power from $11.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, September 12th.

Insider Activity at NET Power

In other news, major shareholder 8 Rivers Capital, Llc sold 431,009 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $12.76, for a total transaction of $5,499,674.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash S. Patel sold 150,000 shares of NET Power stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 1,662,089 shares of company stock worth $16,805,157 in the last three months. Company insiders own 2.71% of the company's stock.

NET Power Stock Performance

Shares of NYSE NPWR traded down $0.34 during trading on Monday, reaching $10.90. 532,831 shares of the company traded hands, compared to its average volume of 598,066. The firm's fifty day simple moving average is $10.80 and its 200 day simple moving average is $9.23. NET Power Inc. has a 12-month low of $6.57 and a 12-month high of $14.28.

NET Power (NYSE:NPWR - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.17. During the same period in the previous year, the firm earned ($0.44) EPS. On average, equities analysts forecast that NET Power Inc. will post -0.4 earnings per share for the current year.

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.