8 Rivers Capital, Llc Sells 55,858 Shares of NET Power (NYSE:NPWR) Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 55,858 shares of NET Power stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $1.47, for a total transaction of $82,111.26. Following the completion of the sale, the insider owned 2,700,000 shares in the company, valued at $3,969,000. This trade represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 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 Thursday, July 30th, 8 Rivers Capital, Llc sold 155,000 shares of NET Power stock. The stock was sold at an average price of $1.43, for a total transaction of $221,650.00.
• On Wednesday, July 29th, 8 Rivers Capital, Llc sold 45,000 shares of NET Power stock. The shares were sold at an average price of $1.41, for a total transaction of $63,450.00.
• On Wednesday, May 13th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The shares were sold at an average price of $2.43, for a total transaction of $85,050.00.
• On Tuesday, May 12th, 8 Rivers Capital, Llc sold 400,000 shares of NET Power stock. The stock was sold at an average price of $2.44, for a total transaction of $976,000.00.

NET Power Trading Up 8.5%

Shares of NET Power stock traded up $0.12 during trading hours on Thursday, reaching $1.48. 731,040 shares of the company’s stock were exchanged, compared to its average volume of 800,047. The company has a 50 day moving average of $1.70 and a two-hundred day moving average of $1.89. NET Power Inc. has a fifty-two week low of $1.35 and a fifty-two week high of $5.20. The stock has a market cap of $331.02 million, a P/E ratio of -0.25 and a beta of 1.06.

NET Power (NYSE:NPWR) last released its earnings results on Monday, May 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05).

Wall Street Analyst Weigh In

NPWR has been the topic of a number of analyst reports. Wall Street Zen cut NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Weiss Ratings downgraded shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 27th. One investment 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, NET Power presently has an average rating of “Hold” and an average target price of $3.50.

Institutional Trading of NET Power

Several hedge funds and other institutional investors have recently modified their holdings of NPWR. CenterBook Partners LP grew its stake in NET Power by 48.0% in the 4th quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock valued at $4,214,000 after buying an additional 599,725 shares during the last quarter. Integrity Alliance LLC. bought a new stake in shares of NET Power during the fourth quarter worth approximately $40,000. JPMorgan Chase & Co. boosted its holdings in shares of NET Power by 1,226.9% during the third quarter. JPMorgan Chase & Co. now owns 212,929 shares of the company’s stock worth $641,000 after acquiring an additional 196,882 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 valued at $46,000 after purchasing an additional 5,739 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of NET Power in the third quarter valued at approximately $39,000. Institutional investors own 53.62% of the company’s stock.

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.