NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 65,220 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 65,220 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $2.38, for a total value of $155,223.60. Following the completion of the sale, the insider owned 1,254,780 shares of the company’s stock, valued at $2,986,376.40. The trade was a 4.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more 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, January 27th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.38, for a total value of $238,000.00.
• On Monday, January 26th, 8 Rivers Capital, Llc sold 130,000 shares of NET Power stock. The shares were sold at an average price of $2.35, for a total value of $305,500.00.
• On Friday, January 16th, 8 Rivers Capital, Llc sold 230,000 shares of NET Power stock. The stock was sold at an average price of $2.63, for a total value of $604,900.00.
• 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 shares were 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 value of $393,400.00.

NET Power Trading Down 1.5%

Shares of NYSE NPWR opened at $2.34 on Thursday. NET Power Inc. has a 12-month low of $1.48 and a 12-month high of $8.98. The stock’s fifty day simple moving average is $2.56 and its two-hundred day simple moving average is $2.84. The stock has a market capitalization of $518.70 million, a PE ratio of -0.31 and a beta of 0.81.

NET Power (NYSE:NPWR) last issued its quarterly earnings data 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. On average, equities analysts predict that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NET Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new stake in NET Power during the 2nd quarter valued at about $25,000. Invesco Ltd. acquired a new stake in shares of NET Power during the second quarter worth about $25,000. Sei Investments Co. purchased a new stake in NET Power in the second quarter valued at approximately $32,000. Quantbot Technologies LP acquired a new position in NET Power in the 3rd quarter worth approximately $39,000. Finally, JPMorgan Chase & Co. raised its position in NET Power by 48.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock worth $40,000 after buying an additional 5,255 shares during the last quarter. Hedge funds and other institutional investors own 53.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NPWR shares. Barclays raised shares of NET Power from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $2.00 to $3.00 in a research report on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of NET Power in a research report on Thursday, January 22nd. Finally, Citigroup reduced their target price on NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.50.

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.