Summit Partners Public Asset Management LLC decreased its holdings in NET Power Inc. (NYSE:NPWR - Free Report) by 17.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,000,000 shares of the company's stock after selling 205,000 shares during the quarter. Summit Partners Public Asset Management LLC owned 0.46% of NET Power worth $7,010,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. MetLife Investment Management LLC grew its stake in shares of NET Power by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 12,922 shares of the company's stock valued at $91,000 after purchasing an additional 7,281 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in NET Power in the third quarter valued at $82,000. Charles Schwab Investment Management Inc. raised its stake in NET Power by 24.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 244,852 shares of the company's stock worth $1,716,000 after acquiring an additional 48,165 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of NET Power during the third quarter valued at $394,000. Finally, Quest Partners LLC acquired a new stake in shares of NET Power in the 3rd quarter valued at $153,000. 53.62% of the stock is owned by institutional investors.
NET Power Stock Performance
Shares of NET Power stock traded down $0.19 during trading on Friday, reaching $12.81. The company's stock had a trading volume of 620,625 shares, compared to its average volume of 418,170. The stock has a 50-day moving average price of $9.26 and a two-hundred day moving average price of $9.26. NET Power Inc. has a one year low of $6.57 and a one year high of $14.28.
NET Power (NYSE:NPWR - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.17. During the same quarter in the prior year, the company earned ($0.44) earnings per share. On average, research analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.
Insider Activity
In other news, major shareholder 8 Rivers Capital, Llc sold 26,926 shares of the firm's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $7.00, for a total value of $188,482.00. Following the transaction, the insider now directly owns 73,074 shares in the company, valued at $511,518. This trade represents a 26.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Npeh, Llc sold 83,325 shares of the company's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $8.10, for a total value of $674,932.50. Following the completion of the sale, the insider now owns 416,675 shares of the company's stock, valued at $3,375,067.50. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,106,209 shares of company stock valued at $20,113,535 over the last 90 days. 2.71% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. US Capital Advisors upgraded shares of NET Power to a "strong-buy" rating in a research report on Monday, October 28th. Citigroup dropped their price objective 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, Barclays reduced their target price on NET Power from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 14th.
Get Our Latest Stock Report on NPWR
NET Power Profile
(
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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