Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells $128,939.51 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 63,517 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $2.03, for a total value of $128,939.51. Following the completion of the sale, the insider directly owned 586,483 shares in the company, valued at $1,190,560.49. This trade represents a 9.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% 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 Thursday, February 19th, 8 Rivers Capital, Llc sold 125,000 shares of NET Power stock. The stock was sold at an average price of $2.14, for a total value of $267,500.00.
• On Wednesday, February 18th, 8 Rivers Capital, Llc sold 75,000 shares of NET Power stock. The shares were sold at an average price of $2.07, for a total transaction of $155,250.00.
• On Friday, February 13th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.14, for a total transaction of $214,000.00.
• On Thursday, February 12th, 8 Rivers Capital, Llc sold 150,000 shares of NET Power stock. The shares were sold at an average price of $2.03, for a total transaction of $304,500.00.
• On Wednesday, February 11th, 8 Rivers Capital, Llc sold 60,000 shares of NET Power stock. The stock was sold at an average price of $2.02, for a total transaction of $121,200.00.
• On Tuesday, February 10th, 8 Rivers Capital, Llc sold 40,000 shares of NET Power stock. The stock was sold at an average price of $2.08, for a total value of $83,200.00.
• On Thursday, January 29th, 8 Rivers Capital, Llc sold 54,780 shares of NET Power stock. The shares were sold at an average price of $2.35, for a total value of $128,733.00.
• On Wednesday, January 28th, 8 Rivers Capital, Llc sold 65,220 shares of NET Power stock. The stock was sold at an average price of $2.38, for a total value of $155,223.60.
• 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 stock was sold at an average price of $2.35, for a total value of $305,500.00.

NET Power Stock Down 2.3%

NPWR opened at $1.91 on Thursday. The firm has a market cap of $423.18 million, a P/E ratio of -0.25 and a beta of 0.82. The business’s fifty day simple moving average is $2.33 and its 200 day simple moving average is $2.74. NET Power Inc. has a 52 week low of $1.48 and a 52 week high of $7.60.

Analyst Upgrades and Downgrades

Several research firms have commented on NPWR. Barclays raised shares of NET Power from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $2.00 to $3.00 in a research note on Friday, November 14th. Citigroup lowered their price objective 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NET Power in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.50.

Institutional Trading of NET Power

Institutional investors and hedge funds have recently made changes to their positions in the company. CenterBook Partners LP grew its position in NET Power by 48.0% during the fourth quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock valued at $4,214,000 after acquiring an additional 599,725 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in shares of NET Power by 16.4% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock worth $7,015,000 after purchasing an additional 400,000 shares during the period. Caption Management LLC increased its position in NET Power by 619.8% during the 2nd quarter. Caption Management LLC now owns 401,899 shares of the company’s stock worth $993,000 after purchasing an additional 346,068 shares in the last quarter. UBS Group AG raised its holdings in NET Power by 183.1% in the third quarter. UBS Group AG now owns 430,452 shares of the company’s stock valued at $1,296,000 after buying an additional 278,400 shares during the period. Finally, Empowered Funds LLC lifted its position in NET Power by 99.3% during the fourth quarter. Empowered Funds LLC now owns 444,734 shares of the company’s stock valued at $1,014,000 after buying an additional 221,530 shares in the last quarter. 53.62% of the stock is currently owned by institutional investors and hedge funds.

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.