NET Power (NYSE:NPWR) Trading 5.5% Higher - Here's Why

NET Power Inc. (NYSE:NPWR - Get Free Report)'s stock price rose 5.5% during trading on Wednesday . The company traded as high as $9.70 and last traded at $9.24. Approximately 165,592 shares traded hands during trading, a decline of 55% from the average daily volume of 364,657 shares. The stock had previously closed at $8.76.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NPWR shares. Barclays cut their price target on shares of NET Power from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 14th. Citigroup decreased their price target on NET Power from $11.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, September 12th.

NET Power Stock Performance

The company has a 50 day simple moving average of $7.54 and a two-hundred day simple moving average of $9.21.

NET Power (NYSE:NPWR - Get Free Report) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter. The business had revenue of $0.24 million for the quarter. As a group, equities research analysts forecast that NET Power Inc. will post -0.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder 8 Rivers Capital, Llc sold 517,618 shares of the firm's stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $7.12, for a total transaction of $3,685,440.16. Following the sale, the insider now owns 199,369 shares in the company, valued at approximately $1,419,507.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 517,618 shares of the firm's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $7.12, for a total value of $3,685,440.16. Following the sale, the insider now directly owns 199,369 shares of the company's stock, valued at approximately $1,419,507.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Npeh, Llc sold 120,500 shares of the company's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $6.92, for a total value of $833,860.00. Following the transaction, the insider now directly owns 716,987 shares of the company's stock, valued at approximately $4,961,550.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,204,829 shares of company stock worth $8,679,686. Corporate insiders own 2.71% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its stake in NET Power by 32.8% in the 1st 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 in the last quarter. Williams Jones Wealth Management LLC. acquired a new stake in shares of NET Power during the 1st quarter worth about $128,000. Vanguard Group Inc. raised its holdings in NET Power by 65.1% in the 1st quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company's stock valued at $27,617,000 after buying an additional 956,134 shares during the period. K2 Principal Fund L.P. purchased a new stake in shares of NET Power in the 1st quarter valued at approximately $148,000. Finally, Bank of New York Mellon Corp acquired a new position in NET Power during the second quarter worth $662,000. 53.62% of the stock is owned by hedge funds and other institutional investors.

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.