8 Rivers Capital, Llc Sells 170,000 Shares of NET Power (NYSE:NPWR) Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 170,000 shares of the stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $2.21, for a total transaction of $375,700.00. Following the transaction, the insider owned 2,050,000 shares in the company, valued at approximately $4,530,500. This represents a 7.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares 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 Friday, December 19th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.34, for a total value of $234,000.00.
• 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 stock was 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 shares were 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 transaction of $588,000.00.
• On Friday, November 21st, 8 Rivers Capital, Llc sold 17,163 shares of NET Power stock. The shares were sold at an average price of $2.50, for a total transaction of $42,907.50.
• On Thursday, November 20th, 8 Rivers Capital, Llc sold 132,837 shares of NET Power stock. The stock was sold at an average price of $2.60, for a total transaction of $345,376.20.

NET Power Stock Performance

NYSE:NPWR traded up $0.05 during midday trading on Monday, reaching $2.24. 1,745,190 shares of the stock traded hands, compared to its average volume of 838,260. The stock has a market capitalization of $496.93 million, a PE ratio of 0.63 and a beta of 0.80. NET Power Inc. has a 12-month low of $1.48 and a 12-month high of $11.83. The business has a 50-day moving average of $2.93 and a two-hundred day moving average of $2.85.

NET Power (NYSE:NPWR) last issued its quarterly earnings data on Thursday, November 13th. The company reported $5.84 EPS for the quarter, beating the consensus estimate of ($0.16) by $6.00. Research analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

NPWR has been the subject of a number of research analyst reports. Barclays raised shares of NET Power from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $2.00 to $3.00 in a report on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a research note on Wednesday, October 8th. Finally, Citigroup lowered their price target on NET Power from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.50.

Hedge Funds Weigh In On NET Power

Institutional investors and hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new position in NET Power during the second quarter valued at approximately $25,000. Invesco Ltd. purchased a new stake in NET Power during the second quarter worth $25,000. Sei Investments Co. acquired a new stake in NET Power during the second quarter valued at $32,000. Quantbot Technologies LP purchased a new position in NET Power in the third quarter valued at $39,000. Finally, Deutsche Bank AG raised its holdings in NET Power by 63.0% in the 1st quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock worth $37,000 after purchasing an additional 5,429 shares during the period. Institutional investors and hedge funds own 53.62% of the company’s stock.

NET Power Company Profile

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.