NET Power (NYSE:NPWR) Shares Gap Up - Here's Why

On Friday, NET Power Inc. (NYSE:NPWR) experienced a notable increase in its share price, gapping up before the market opened. The stock, which had closed the previous day at $12.99, opened at $13.40 and subsequently traded at $13.72, with a volume of 247,980 shares exchanged during the session.

Analyst Ratings Impact

Recent analyst evaluations have played a significant role in the stock’s performance. On October 28th, US Capital Advisors raised their rating for NET Power to a "strong-buy." Meanwhile, Barclays adjusted their target price from $13.00 to $11.00 while maintaining an "equal weight" rating, as reported on August 14th. Additionally, Citigroup lowered their target price from $11.00 to $8.00, assigning a "neutral" rating in a research note from September 12th.

Recent Trading Performance

As of now, NET Power is trading 2.1% higher. The company’s fifty-day moving average stands at $9.15, and the 200-day moving average is at $9.24. NET Power is scheduled to announce its quarterly earnings results on November 12th. In the latest report, the company's earnings per share were $0.01, surpassing the consensus estimate of ($0.16) by $0.17. This marks a substantial improvement compared to the same quarter last year when the firm reported an EPS of ($0.44). Analysts predict that NET Power will report an EPS of -0.4 for the current fiscal year.

Insider Transactions

Insider trading activity has also caught attention. On November 22nd, CFO Akash S. Patel sold 150,000 shares at an average price of $12.65, totaling approximately $1,897,500. Furthermore, significant shareholder 8 Rivers Capital, LLC sold 431,009 shares at an average price of $12.76, garnering around $5,499,674.84 from the sale. In total, insiders sold 2,106,209 shares of the company's stock valued at over $20 million during the last quarter, with insiders currently holding about 2.71% of the company's shares.

Institutional Involvement

Several institutional investors have made moves regarding NET Power shares. Dynamic Technology Lab Private Ltd. acquired a new stake worth approximately $82,000 in the third quarter. Moreover, MetLife Investment Management LLC increased its stake by 129.1%, now owning 12,922 shares valued around $91,000 after purchasing an additional 7,281 shares. XTX Topco Ltd and B. Riley Wealth Advisors Inc. have also bought new positions valued at $133,000 and $136,000 respectively. Currently, institutional investors own 53.62% of NET Power shares.

About NET Power

NET Power Inc. operates within the clean energy sector, focusing on the invention, development, and licensing of clean power generation technology. Established in 2010, the company is based in Durham, North Carolina.

Shares, Investment, Performance