NET Power (NYSE:NPWR) Shares Down 7.2% – What’s Next?

NET Power Inc. (NYSE:NPWR) shares were down 7.2% during mid-day trading on Monday . The company traded as low as $2.49 and last traded at $2.50. Approximately 254,330 shares changed hands during trading, a decline of 58% from the average daily volume of 608,752 shares. The stock had previously closed at $2.69.

Wall Street Analysts Forecast Growth

NPWR has been the subject of a number of research analyst reports. Citigroup upgraded shares of NET Power from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $14.00 to $6.00 in a report on Tuesday, March 11th. Barclays decreased their price target on shares of NET Power from $11.00 to $3.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th.

NET Power Price Performance

The firm has a fifty day moving average of $6.55 and a two-hundred day moving average of $8.44. The stock has a market capitalization of $566.92 million, a P/E ratio of -3.90 and a beta of 0.07.

Hedge Funds Weigh In On NET Power

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of NET Power by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 2,865,402 shares of the company’s stock valued at $30,345,000 after acquiring an additional 332,554 shares during the period. Geode Capital Management LLC boosted its position in NET Power by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 658,563 shares of the company’s stock valued at $6,976,000 after purchasing an additional 11,979 shares in the last quarter. Marshall Wace LLP grew its stake in NET Power by 9.4% in the fourth quarter. Marshall Wace LLP now owns 448,547 shares of the company’s stock valued at $4,750,000 after purchasing an additional 38,627 shares during the last quarter. HITE Hedge Asset Management LLC raised its holdings in NET Power by 6.2% in the fourth quarter. HITE Hedge Asset Management LLC now owns 411,512 shares of the company’s stock worth $4,358,000 after purchasing an additional 23,888 shares in the last quarter. Finally, State Street Corp lifted its position in shares of NET Power by 11.8% during the third 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 during the last quarter. 53.62% of the stock is owned by hedge funds and other institutional investors.

NET Power Company Profile

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.