What Makes NET Power (NPWR) an Attractive Investment Opportunity?
Greenlight Capital, an investment management company, released its second-quarter 2023 investor letter. A copy of the same can be downloaded here. The fund returned 14.5% net of fees and expenses, in the second quarter compared to an 8.7% return for the S&P 500 Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Greenlight Capital highlighted stocks like NET Power Inc. (NYSE:NPWR) in the second quarter 2023 investor letter. Headquartered in Durham, North Carolina, NET Power Inc. (NYSE:NPWR) is a clean energy technology company. On August 15, 2023, NET Power Inc. (NYSE:NPWR) stock closed at $14.49 per share. One-month return of NET Power Inc. (NYSE:NPWR) was 21.33%, and its shares gained 54.84% of their value over the last 52 weeks. NET Power Inc. (NYSE:NPWR) has a market capitalization of $1.008 billion.
Greenlight Capital made the following comment about NET Power Inc. (NYSE:NPWR) in its second quarter 2023 investor letter:
"NET Power Inc. (NYSE:NPWR) is a clean energy company with carbon capture technology that captures about 97% of the CO2 emissions in natural gas plants. It became public this quarter through a SPAC. What could be less popular than that these days? We think that just might be part of the opportunity. We believe that carbon capture will be a large market and NPWR has strong backing. The CEO is Daniel Rice, and he and his family have been extremely successful in the natural gas industry. The company has partnered with Occidental Petroleum, Constellation Energy and Baker Hughes. NPWR is in the early stages of its commercial deployment and if it doesn’t work out, the downside is more than we would usually stomach. However, the upside also appears to potentially be a multi-bagger and we have managed our risk by sizing the position appropriately. We established our position earlier in the year around the public offering for an average price of $10.10 per share. NPWR ended the quarter at $13.00 per share."
Photo by Frédéric Paulussen on Unsplash
NET Power Inc. (NYSE:NPWR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held NET Power Inc. (NYSE:NPWR) at the end of first quarter which was 0 in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
