NET Power Inc. (NYSE:NPWR - Get Free Report)'s stock price dropped 5.1% during mid-day trading on Wednesday after Barclays lowered their price target on the stock from $11.00 to $3.00. Barclays currently has an equal weight rating on the stock. NET Power traded as low as $2.87 and last traded at $3.06. Approximately 547,307 shares traded hands during trading, a decline of 44% from the average daily volume of 973,301 shares. The stock had previously closed at $3.22.
Separately, Citigroup raised shares of NET Power from a "neutral" rating to a "buy" rating and cut their target price for the company from $14.00 to $6.00 in a research note on Tuesday.
Read Our Latest Analysis on NET Power
Institutional Trading of NET Power
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in NET Power by 13.1% during the 4th quarter. Vanguard Group Inc. now owns 2,865,402 shares of the company's stock valued at $30,345,000 after purchasing an additional 332,554 shares during the period. Geode Capital Management LLC grew its holdings in shares of NET Power by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 658,563 shares of the company's stock valued at $6,976,000 after acquiring an additional 11,979 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of NET Power by 9.4% during the 4th quarter. Marshall Wace LLP now owns 448,547 shares of the company's stock valued at $4,750,000 after acquiring an additional 38,627 shares in the last quarter. HITE Hedge Asset Management LLC grew its holdings in shares of NET Power by 6.2% during the 4th quarter. HITE Hedge Asset Management LLC now owns 411,512 shares of the company's stock valued at $4,358,000 after acquiring an additional 23,888 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of NET Power by 11.8% during the 3rd quarter. State Street Corp now owns 369,281 shares of the company's stock valued at $2,589,000 after acquiring an additional 38,910 shares in the last quarter. 53.62% of the stock is owned by institutional investors and hedge funds.
NET Power Stock Performance
The firm's fifty day moving average price is $8.04 and its 200 day moving average price is $8.80.
About NET Power
(
Get Free Report)
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.
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