Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells 100,000 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock in a transaction on Friday, December 19th. The shares were sold at an average price of $2.34, for a total transaction of $234,000.00. Following the completion of the transaction, the insider owned 2,450,000 shares in the company, valued at approximately $5,733,000. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

8 Rivers Capital, Llc also recently made the following trade(s):

• On Tuesday, December 23rd, 8 Rivers Capital, Llc sold 130,000 shares of NET Power stock. The stock was sold at an average price of $2.17, for a total transaction of $282,100.00.
• On Monday, December 22nd, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.26, for a total value of $226,000.00.
• On Tuesday, December 9th, 8 Rivers Capital, Llc sold 40,000 shares of NET Power stock. The shares were sold at an average price of $2.82, for a total value of $112,800.00.
• On Monday, December 8th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The shares were sold at an average price of $2.81, for a total value of $393,400.00.
• On Friday, December 5th, 8 Rivers Capital, Llc sold 105,000 shares of NET Power stock. The stock was sold at an average price of $2.91, for a total value of $305,550.00.
• On Thursday, December 4th, 8 Rivers Capital, Llc sold 65,000 shares of NET Power stock. The shares were sold at an average price of $2.94, for a total value of $191,100.00.
• On Friday, November 28th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The stock was sold at an average price of $2.94, for a total value of $588,000.00.
• On Friday, November 21st, 8 Rivers Capital, Llc sold 17,163 shares of NET Power stock. The stock was sold at an average price of $2.50, for a total value of $42,907.50.
• On Thursday, November 20th, 8 Rivers Capital, Llc sold 132,837 shares of NET Power stock. The shares were sold at an average price of $2.60, for a total transaction of $345,376.20.
• On Wednesday, November 19th, 8 Rivers Capital, Llc sold 250,000 shares of NET Power stock. The shares were sold at an average price of $2.57, for a total transaction of $642,500.00.

NET Power Price Performance

Shares of NPWR stock traded down $0.04 during mid-day trading on Tuesday, hitting $2.17. The stock had a trading volume of 1,293,368 shares, compared to its average volume of 1,416,357. The firm has a market cap of $481.60 million, a PE ratio of -0.28 and a beta of 0.80. The company’s 50-day simple moving average is $3.12 and its 200-day simple moving average is $2.87. NET Power Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $11.83.

NET Power (NYSE:NPWR) last issued its quarterly earnings results on Thursday, November 13th. The company reported $5.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $6.00. On average, analysts expect that NET Power Inc. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NPWR shares. Citigroup reduced their price target on NET Power from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a research report on Wednesday, October 8th. Finally, Barclays upgraded shares of NET Power from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $2.00 to $3.00 in a report on Friday, November 14th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.50.

Hedge Funds Weigh In On NET Power

Hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in NET Power during the second quarter worth $25,000. Invesco Ltd. purchased a new stake in shares of NET Power in the 2nd quarter worth about $25,000. Sei Investments Co. acquired a new stake in NET Power in the 2nd quarter valued at about $32,000. Deutsche Bank AG increased its holdings in NET Power by 63.0% during the 1st quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock valued at $37,000 after acquiring an additional 5,429 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in NET Power during the third quarter worth about $39,000. 53.62% of the stock is owned by institutional investors and hedge funds.

About NET Power

NET Power, Inc is an energy technology company focused on developing and commercializing power generation plants that burn natural gas and other fuels with near-zero carbon emissions. The company’s core innovation is the proprietary Allam-Fetvedt Cycle, a supercritical carbon dioxide power cycle that captures all carbon dioxide produced during combustion without the need for separate carbon capture systems. By integrating gas combustion, heat exchange and carbon dioxide separation into a single closed-loop process, NET Power aims to deliver baseload power with efficiencies and emissions profiles competitive with conventional and renewable generation sources.

Since demonstrating its first full-scale Allam-Cycle facility in La Porte, Texas, NET Power has moved from pilot operation toward commercial deployment.