NET Power (NYSE:NPWR) Given New $4.00 Price Target at Citigroup

NET Power (NYSE:NPWR) had its price objective reduced by Citigroup from $6.00 to $4.00 in a report published on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on NPWR. Barclays upgraded NET Power from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $2.00 to $3.00 in a research note on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NET Power in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.50.

NET Power Price Performance

NYSE:NPWR opened at $2.70 on Tuesday. NET Power has a one year low of $1.48 and a one year high of $14.12. The business has a fifty day moving average price of $3.30 and a 200-day moving average price of $2.74. The firm has a market capitalization of $590.80 million, a price-to-earnings ratio of -0.35 and a beta of 0.78.

NET Power (NYSE:NPWR) last released its quarterly earnings results on Thursday, November 13th. The company reported $5.84 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $6.00. On average, equities research analysts expect that NET Power will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NET Power news, major shareholder 8 Rivers Capital, Llc sold 786,832 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $4.12, for a total value of $3,241,747.84. Following the completion of the transaction, the insider directly owned 1,973,000 shares in the company, valued at $8,128,760. This represents a 28.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 2,179,463 shares of company stock valued at $8,639,384. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NET Power

Several hedge funds have recently modified their holdings of the stock. CenterBook Partners LP grew its stake in NET Power by 1,655.5% during the first quarter. CenterBook Partners LP now owns 1,744,770 shares of the company’s stock valued at $4,589,000 after acquiring an additional 1,645,380 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of NET Power by 481.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 2,440,000 shares of the company’s stock valued at $6,417,000 after purchasing an additional 2,020,000 shares in the last quarter. HITE Hedge Asset Management LLC increased its holdings in shares of NET Power by 80.6% in the first quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company’s stock worth $1,955,000 after purchasing an additional 331,726 shares during the last quarter. Deutsche Bank AG lifted its position in shares of NET Power by 63.0% in the first quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock worth $37,000 after buying an additional 5,429 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in NET Power during the first quarter valued at approximately $221,000. Hedge funds and other institutional investors own 53.62% of the company’s stock.

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.