Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells $92,327.85 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 60,345 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $1.53, for a total value of $92,327.85. Following the sale, the insider owned 2,090,400 shares of the company’s stock, valued at approximately $3,198,312. The trade was a 2.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Tuesday, August 11th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The shares were sold at an average price of $1.60, for a total value of $56,000.00.
• On Monday, August 10th, 8 Rivers Capital, Llc sold 55,400 shares of NET Power stock. The stock was sold at an average price of $1.55, for a total value of $85,870.00.
• On Thursday, August 6th, 8 Rivers Capital, Llc sold 89,255 shares of NET Power stock. The stock was sold at an average price of $1.51, for a total value of $134,775.05.
• On Wednesday, August 5th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The stock was sold at an average price of $1.51, for a total value of $211,400.00.
• On Tuesday, August 4th, 8 Rivers Capital, Llc sold 120,000 shares of NET Power stock. The shares were sold at an average price of $1.54, for a total value of $184,800.00.
• 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 stock was sold at an average price of $1.41, for a total transaction of $63,450.00.
• On Tuesday, July 28th, 8 Rivers Capital, Llc sold 55,858 shares of NET Power stock. The shares were sold at an average price of $1.47, for a total transaction of $82,111.26.
• 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.

NET Power Price Performance

Shares of NET Power stock opened at $1.62 on Friday. The company has a market cap of $364.68 million, a PE ratio of -0.28 and a beta of 1.07. The firm has a fifty day moving average price of $1.60 and a two-hundred day moving average price of $1.80. NET Power Inc. has a fifty-two week low of $1.35 and a fifty-two week high of $5.20.

NET Power (NYSE:NPWR) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.84).

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen lowered NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Weiss Ratings upgraded NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, NET Power presently has a consensus rating of “Hold” and a consensus price target of $3.50.

Hedge Funds Weigh In On NET Power

A number of hedge funds have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. lifted 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 acquiring an additional 400,000 shares during the period. CenterBook Partners LP increased its stake in NET Power by 48.0% in 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. Geode Capital Management LLC increased its stake in NET Power by 21.4% in the second quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock valued at $2,078,000 after acquiring an additional 148,307 shares during the period. Two Sigma Investments LP raised its position in NET Power by 36.7% in the third quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock worth $2,474,000 after purchasing an additional 220,831 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in NET Power by 644.0% in the first quarter. Renaissance Technologies LLC now owns 703,800 shares of the company’s stock worth $1,098,000 after purchasing an additional 609,200 shares in the last quarter. 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.