NET Power (NYSE:NPWR) Shares Down 5.8% – Here’s Why

NET Power Inc. (NYSE:NPWR) was down 5.8% during trading on Tuesday . The stock traded as low as $3.05 and last traded at $3.04. Approximately 115,365 shares traded hands during trading, a decline of 80% from the average daily volume of 584,308 shares. The stock had previously closed at $3.23.

Analyst Upgrades and Downgrades

Several research analysts have commented on NPWR shares. Citigroup raised shares of NET Power from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $14.00 to $6.00 in a research note on Tuesday, March 11th. Barclays dropped their price objective 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 Stock Performance

The stock’s 50 day moving average price is $7.73 and its 200-day moving average price is $8.75.

Institutional Trading of NET Power

A number of large investors have recently made changes to their positions in NPWR. Covestor Ltd bought a new stake in shares of NET Power in the fourth quarter valued at about $43,000. Dynamic Technology Lab Private Ltd bought a new position in NET Power in the third quarter worth about $82,000. MetLife Investment Management LLC raised its holdings in NET Power by 129.1% in the third quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock worth $91,000 after purchasing an additional 7,281 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in NET Power in the fourth quarter worth about $108,000. Finally, National Bank of Canada FI raised its holdings in NET Power by 2,727.0% in the fourth quarter. National Bank of Canada FI now owns 11,930 shares of the company’s stock worth $126,000 after purchasing an additional 11,508 shares in the last quarter. 53.62% of the stock is owned by hedge funds and other institutional investors.

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.