NET Power Inc. (NYSE:NPWR - Get Free Report) shares were down 3.8% during trading on Monday . The company traded as low as $2.28 and last traded at $2.30. Approximately 244,002 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 632,684 shares. The stock had previously closed at $2.39.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Citigroup raised shares of NET Power from a "neutral" rating to a "buy" rating and dropped their target price for the company from $14.00 to $6.00 in a report on Tuesday, March 11th. Barclays cut their price objective on NET Power from $11.00 to $3.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th.
Read Our Latest Stock Analysis on NPWR
NET Power Trading Down 7.3 %
The company has a market cap of $429.82 million, a price-to-earnings ratio of -2.95 and a beta of 0.47. The business's 50 day moving average price is $4.32 and its 200-day moving average price is $7.85.
Hedge Funds Weigh In On NET Power
Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp grew its holdings in NET Power by 11.8% in the 3rd quarter. State Street Corp now owns 369,281 shares of the company's stock valued at $2,589,000 after buying an additional 38,910 shares in the last quarter. Barclays PLC boosted its position in shares of NET Power by 276.7% in the third quarter. Barclays PLC now owns 27,883 shares of the company's stock valued at $196,000 after acquiring an additional 20,481 shares during the period. Geode Capital Management LLC grew its stake in shares of NET Power by 21.7% in the third quarter. Geode Capital Management LLC now owns 646,584 shares of the company's stock valued at $4,535,000 after acquiring an additional 115,189 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in NET Power during the fourth quarter worth about $108,000. Finally, Handelsbanken Fonder AB acquired a new stake in NET Power in the 4th quarter worth about $175,000. Institutional investors and hedge funds own 53.62% of the company's stock.
NET Power Company Profile
(
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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