NET Power (NYSE:NPWR) Shares Down 4.7%

Shares of NET Power Inc. (NYSE:NPWR) dropped 4.7% during mid-day trading on Monday . The company traded as low as $8.36 and last traded at $8.36. Approximately 30,898 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 348,957 shares. The stock had previously closed at $8.77.

Wall Street Analysts Forecast Growth

Separately, Barclays lowered their target price on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday.

NET Power Stock Down 7.3 %

The firm has a 50 day simple moving average of $9.57 and a two-hundred day simple moving average of $9.80.

NET Power (NYSE:NPWR) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.16) earnings per share for the quarter. Equities research analysts expect that NET Power Inc. will post -0.21 EPS for the current fiscal year.

Insider Buying and Selling at NET Power

In related news, major shareholder Sk Inc. sold 2,500,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $10.04, for a total transaction of $25,100,000.00. Following the sale, the insider now owns 2,500,000 shares of the company’s stock, valued at approximately $25,100,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.71% of the company’s stock.

Institutional Trading of NET Power

Several hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of NET Power in the fourth quarter valued at approximately $31,000. Swiss National Bank bought a new stake in NET Power in the 4th quarter valued at $275,000. Jump Financial LLC bought a new stake in NET Power in the 4th quarter valued at $197,000. Neuberger Berman Group LLC acquired a new position in NET Power in the 4th quarter worth $163,000. Finally, Berylson Capital Partners LLC bought a new position in NET Power during the 4th quarter worth about $1,303,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.

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.