NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 100,000 Shares

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $2.38, for a total transaction of $238,000.00. Following the completion of the transaction, the insider owned 1,320,000 shares in the company, valued at approximately $3,141,600. The trade was a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 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 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 transaction of $155,223.60.
• 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.
• On Friday, January 16th, 8 Rivers Capital, Llc sold 230,000 shares of NET Power stock. The shares were 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 shares were sold at an average price of $2.21, for a total value 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 stock was 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 transaction of $393,400.00.

NET Power Price Performance

Shares of NYSE NPWR traded down $0.04 during midday trading on Wednesday, hitting $2.34. 685,830 shares of the company’s stock were exchanged, compared to its average volume of 811,157. NET Power Inc. has a twelve month low of $1.48 and a twelve month high of $8.98. The firm has a market cap of $518.70 million, a P/E ratio of -0.31 and a beta of 0.81. The stock’s 50 day moving average price is $2.56 and its 200-day moving average price is $2.84.

NET Power (NYSE:NPWR) last issued its quarterly earnings results on Thursday, November 13th. The company reported $5.84 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $6.00. On average, analysts expect that NET Power Inc. will post -0.4 EPS 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. CenterBook Partners LP raised its stake in NET Power by 78.8% during the 3rd quarter. CenterBook Partners LP now owns 1,248,348 shares of the company’s stock valued at $3,758,000 after purchasing an additional 550,270 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in shares of NET Power by 16.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock valued at $7,015,000 after buying an additional 400,000 shares in the last quarter. Caption Management LLC raised its position in NET Power by 619.8% during the second quarter. Caption Management LLC now owns 401,899 shares of the company’s stock valued at $993,000 after buying an additional 346,068 shares during the period. UBS Group AG lifted its stake in NET Power by 183.1% in the 3rd quarter. UBS Group AG now owns 430,452 shares of the company’s stock worth $1,296,000 after acquiring an additional 278,400 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in NET Power by 36.7% during the 3rd quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock worth $2,474,000 after acquiring an additional 220,831 shares during the period. Institutional investors and hedge funds own 53.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on NPWR. Citigroup dropped their price target on shares of NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a research report on Thursday, January 22nd. Finally, Barclays upgraded NET Power from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $2.00 to $3.00 in a research report on Friday, November 14th. One 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 has an average rating of “Hold” and an average price target of $3.50.

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.