Net Power Inc. (NASDAQ:NPWR) Chief Financial Officer Akash S. Patel recently engaged in a series of transactions involving the company’s stock, according to a recent SEC filing. On April 3, Patel sold 7,359 shares of Class A Common Stock at a weighted average price of $2.2925 per share, generating approximately $16,870. These shares were part of a Rule 10b5-1 trading plan. The transaction comes as the stock trades near its 52-week low of $2.02, having declined over 80% in the past year.
Additionally, Patel acquired 117,757 restricted stock units (RSUs) on April 2, which will vest in three equal installments on each anniversary of the acquisition date, contingent upon continued employment. In a related transaction, Patel also acquired 117,757 performance stock units (PSUs), which are tied to the company’s stock performance over the next three years.
Following these transactions, Patel now directly owns 151,208 shares of Net Power’s Class A Common Stock. Despite the recent stock performance, analysts maintain a bullish outlook on NPWR, and InvestingPro analysis indicates the stock is currently trading below its Fair Value. Subscribers to InvestingPro can access 18 additional key insights and a comprehensive Pro Research Report for deeper analysis of NPWR’s financial health and growth prospects.
In other recent news, NET Power Inc. reported a wider-than-expected fourth-quarter loss of $0.67 per share, missing analyst estimates of a $0.12 loss. The company completed the Front-End Engineering Design (FEED) for Project Permian, but the cost estimates were significantly higher than anticipated, leading to a delay in the project’s completion until at least 2029. Additionally, NET Power has engaged KPMG LLP as its new auditor for the fiscal year ending December 31, 2025, replacing Grant Thornton LLP. Citi analyst Ryan Levine upgraded NET Power’s stock rating to Buy while reducing the price target to $6.00, citing downside protection and strategic partnerships as key factors. Meanwhile, Texas Capital Securities maintained a Buy rating with a $24 price target, acknowledging both achievements and setbacks in the company’s latest earnings release. The company is actively working on cost optimization strategies, including a study for a modular multi-unit design to reduce expenses. NET Power ended 2024 with $533 million in cash and investments, down from the previous quarter. The company is also exploring coastal locations for future deployments, aiming for 2030-2033.
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