HITE Hedge Asset Management LLC Raises Stock Holdings in NET Power Inc. (NYSE:NPWR)

HITE Hedge Asset Management LLC lifted its holdings in shares of NET Power Inc. (NYSE:NPWR) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 387,624 shares of the company’s stock after purchasing an additional 9,987 shares during the period. HITE Hedge Asset Management LLC’s holdings in NET Power were worth $2,717,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. MetLife Investment Management LLC raised its stake in NET Power by 129.1% during the third 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 in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in NET Power in the 3rd quarter valued at $82,000. Charles Schwab Investment Management Inc. lifted its position in NET Power by 24.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 244,852 shares of the company’s stock valued at $1,716,000 after buying an additional 48,165 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of NET Power during the third quarter worth approximately $394,000. Finally, Quest Partners LLC acquired a new stake in shares of NET Power in the third quarter valued at approximately $153,000. 53.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NET Power

In other NET Power news, major shareholder Npeh, Llc sold 120,500 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $6.92, for a total value of $833,860.00. Following the completion of the transaction, the insider now directly owns 716,987 shares of the company’s stock, valued at $4,961,550.04. This trade represents a 14.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 8 Rivers Capital, Llc sold 80,122 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $7.02, for a total transaction of $562,456.44. Following the transaction, the insider now owns 342,364 shares in the company, valued at $2,403,395.28. This represents a 18.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,106,209 shares of company stock valued at $20,113,535 in the last 90 days. 2.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup reduced their price objective on NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. US Capital Advisors upgraded NET Power to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Barclays decreased their price objective on NET Power from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 14th.

NET Power Trading Down 5.2 %

Shares of NYSE:NPWR opened at $12.14 on Tuesday. NET Power Inc. has a 52-week low of $6.57 and a 52-week high of $14.28. The firm has a fifty day moving average of $9.37 and a 200 day moving average of $9.23.

NET Power (NYSE:NPWR) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.17. During the same quarter in the prior year, the business posted ($0.44) earnings per share. As a group, equities analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

About NET Power

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.