NET Power (NYSE:NPWR) Major Shareholder Sells $604,900.00 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 230,000 shares of the company’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $2.63, for a total value of $604,900.00. Following the completion of the transaction, the insider owned 1,550,000 shares in the company, valued at $4,076,500. This represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, January 14th, 8 Rivers Capital, Llc sold 135,000 shares of NET Power stock. The stock was sold at an average price of $2.74, for a total value of $369,900.00.
• On Wednesday, December 24th, 8 Rivers Capital, Llc sold 170,000 shares of NET Power stock. The stock was sold at an average price of $2.21, for a total transaction of $375,700.00.
• On Tuesday, December 23rd, 8 Rivers Capital, Llc sold 130,000 shares of NET Power stock. The shares were 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 transaction 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 transaction of $234,000.00.
• On Tuesday, December 9th, 8 Rivers Capital, Llc sold 40,000 shares of NET Power stock. The stock was sold at an average price of $2.82, for a total transaction 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 transaction 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 value of $588,000.00.

NET Power Trading Up 4.4%

Shares of NPWR traded up $0.11 during midday trading on Friday, reaching $2.62. The stock had a trading volume of 1,635,215 shares, compared to its average volume of 957,197. The company has a market capitalization of $582.01 million, a price-to-earnings ratio of 0.72 and a beta of 0.81. The company’s 50-day moving average is $2.64 and its 200 day moving average is $2.87. NET Power Inc. has a 12-month low of $1.48 and a 12-month high of $10.20.

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

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Citigroup lowered their price target on shares of NET Power from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NET Power in a research note on Wednesday, October 8th. Finally, Barclays raised NET Power from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $2.00 to $3.00 in a research note on Friday, November 14th. One equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $3.50.

Hedge Funds Weigh In On NET Power

Several hedge funds and other institutional investors have recently modified their holdings of the company. Stonegate Investment Group LLC lifted its stake in shares of NET Power by 20.0% in the 3rd quarter. Stonegate Investment Group LLC now owns 30,000 shares of the company’s stock valued at $90,000 after purchasing an additional 5,000 shares during the period. JPMorgan Chase & Co. raised its holdings in NET Power by 48.7% in the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock worth $40,000 after purchasing an additional 5,255 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NET Power by 44.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company’s stock worth $46,000 after purchasing an additional 5,739 shares in the last quarter. Engineers Gate Manager LP lifted its position in NET Power by 17.8% during the second quarter. Engineers Gate Manager LP now owns 46,433 shares of the company’s stock valued at $115,000 after buying an additional 7,002 shares during the period. Finally, Sig Brokerage LP boosted its holdings in shares of NET Power by 50.3% during the 3rd quarter. Sig Brokerage LP now owns 24,298 shares of the company’s stock valued at $73,000 after buying an additional 8,130 shares in the last quarter. 53.62% of the stock is owned by institutional investors.

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.