NET Power (NYSE:NPWR) Shares Gap Up - Still a Buy?
NET Power (NYSE:NPWR) shares gapped up from $2.15 to $2.23, closing at $2.43 with a trading volume of 230,588. Analysts have mixed views; Citigroup upgraded NPWR to 'buy' but lowered the price target to $6, while Barclays downgraded it to 'underweight' with a target of $2. The company reported a quarterly loss of $1.55 EPS, missing estimates. Institutional investors hold 53.62% of shares, with significant increases in holdings from Vanguard and Adage Capital. NET Power focuses on clean energy technology and has a market cap of $548.76 million.
NET Power Inc. (NYSE:NPWR - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $2.15, but opened at $2.23. NET Power shares last traded at $2.43, with a volume of 230,588 shares trading hands.
Analyst Ratings Changes
Several equities analysts recently commented on NPWR shares. Citigroup upgraded shares of NET Power from a "neutral" rating to a "buy" rating and decreased their price target for the company from $14.00 to $6.00 in a research note on Tuesday, March 11th. Barclays cut NET Power from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $3.00 to $2.00 in a research note on Wednesday, April 23rd.
Check Out Our Latest Analysis on NPWR
NET Power Trading Up 16.5%
The stock has a fifty day moving average of $1.99 and a two-hundred day moving average of $6.23. The company has a market capitalization of $548.76 million, a PE ratio of -1.23 and a beta of 0.51.
NET Power (NYSE:NPWR - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($1.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($1.44). Equities analysts forecast that NET Power Inc. will post -0.4 EPS for the current year.
Institutional Investors Weigh In On NET Power
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NPWR. Vanguard Group Inc. grew its holdings in shares of NET Power by 13.1% in the fourth quarter. Vanguard Group Inc. now owns 2,865,402 shares of the company's stock valued at $30,345,000 after purchasing an additional 332,554 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in shares of NET Power by 481.0% in 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 acquiring an additional 2,020,000 shares in the last quarter. CenterBook Partners LP grew its position 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 worth $4,589,000 after buying an additional 1,645,380 shares during the period. HITE Hedge Asset Management LLC raised its position in shares of NET Power by 80.6% during the 1st 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. Finally, Geode Capital Management LLC lifted 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 worth $6,976,000 after buying an additional 11,979 shares during the period. 53.62% of the stock is owned by institutional investors and hedge funds.
About NET Power
(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.
See Also
- Five stocks we like better than NET Power
- How to Know Which Cryptocurrency to Buy: A Guide for Investors
- Are NVIDIA's Ethernet Wins Signs of Hope or Horror for Arista?
- Stock Market Upgrades: What Are They?
- Broadcom Slides on Solid Earnings, AI Outlook Still Strong
- Energy and Oil Stocks Explained
- The Market’s Silent Warning: What Bonds and Gold Reveal
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in NET Power Right Now?
Before you consider NET Power, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NET Power wasn't on the list.
While NET Power currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
