Michigan survey ahead; Applied Digital surges; gold dips - what’s moving markets
In a turbulent market environment, NPWR stock has reached a 52-week low, trading at $2.27, with technical indicators from InvestingPro suggesting the stock is in oversold territory. This price level reflects significant pressure on the company’s valuation, as investors recalibrate their expectations in the face of ongoing industry and economic headwinds. According to InvestingPro’s Fair Value analysis, the stock appears undervalued at current levels. Over the past year, NPWR’s performance has been notably impacted, with a steep decline of 76.55%, while maintaining a strong current ratio of 28.65 and holding more cash than debt on its balance sheet. This downturn underscores the challenges NPWR has faced, as market participants continue to navigate a complex financial landscape marked by heightened volatility and shifting investor sentiment. InvestingPro subscribers have access to 15+ additional key insights about NPWR’s financial health and market position.
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 per share loss. The company also announced delays in its first utility-scale project, Project Permian, due to higher-than-expected cost estimates now ranging between $1.7 billion and $2.0 billion. Despite these challenges, NET Power completed the Front-End Engineering Design (FEED) study for Project Permian, confirming the project’s design integrity. Texas Capital Securities maintained a Buy rating on NET Power with a $24.00 price target following the earnings release, highlighting both achievements and setbacks. Meanwhile, Citi analyst Ryan Levine upgraded the stock rating from Neutral to Buy, though he reduced the price target to $6.00, citing downside protection and strategic partnerships. Levine noted that NET Power has approximately three years of liquidity to raise additional capital and address cost issues. Additionally, NET Power announced a change in its auditing firm, engaging KPMG LLP for the upcoming fiscal year, following the dismissal of Grant Thornton LLP. The company has also initiated a study to explore modular multi-unit designs to potentially reduce costs and is considering coastal-based locations for future projects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.