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

NET Power Inc. (NYSE:NPWR) gapped down before the market opened on Tuesday . The stock had previously closed at $4.75, but opened at $3.15. NET Power shares last traded at $3.02, with a volume of 1,028,652 shares.

Wall Street Analyst Weigh In

Separately, Citigroup raised shares of NET Power from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $14.00 to $6.00 in a research report on Tuesday.

NET Power Price Performance

The stock’s 50-day moving average price is $8.49 and its 200 day moving average price is $8.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NPWR. Vanguard Group Inc. increased its stake 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 worth $30,345,000 after purchasing an additional 332,554 shares during the period. Geode Capital Management LLC lifted its holdings in shares of 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 last quarter. Marshall Wace LLP lifted its holdings in shares of NET Power by 9.4% during the fourth quarter. Marshall Wace LLP now owns 448,547 shares of the company’s stock worth $4,750,000 after buying an additional 38,627 shares during the last quarter. HITE Hedge Asset Management LLC boosted its position in shares of NET Power by 6.2% in the fourth quarter. HITE Hedge Asset Management LLC now owns 411,512 shares of the company’s stock valued at $4,358,000 after acquiring an additional 23,888 shares during the period. Finally, State Street Corp grew its stake in shares of NET Power by 11.8% in the third quarter. State Street Corp now owns 369,281 shares of the company’s stock worth $2,589,000 after acquiring an additional 38,910 shares during the last quarter. Institutional investors and hedge funds 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.