NET Power (NYSE:NPWR) Major Shareholder Sells $276,000.00 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 150,000 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $1.84, for a total transaction of $276,000.00. Following the completion of the sale, the insider directly owned 750,000 shares in the company, valued at $1,380,000. This trade represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% 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, September 8th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $1.94, for a total transaction of $194,000.00.
• On Wednesday, August 26th, 8 Rivers Capital, Llc sold 41,350 shares of NET Power stock. The stock was sold at an average price of $1.91, for a total transaction of $78,978.50.
• On Tuesday, August 25th, 8 Rivers Capital, Llc sold 201,550 shares of NET Power stock. The shares were sold at an average price of $1.91, for a total transaction of $384,960.50.
• On Friday, August 14th, 8 Rivers Capital, Llc sold 507,100 shares of NET Power stock. The shares were sold at an average price of $1.95, for a total transaction of $988,845.00.
• On Thursday, August 13th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The stock was sold at an average price of $1.62, for a total transaction of $324,000.00.
• On Wednesday, August 12th, 8 Rivers Capital, Llc sold 50,000 shares of NET Power stock. The stock was sold at an average price of $1.63, for a total transaction of $81,500.00.
• 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 Friday, August 7th, 8 Rivers Capital, Llc sold 60,345 shares of NET Power stock. The stock was sold at an average price of $1.53, for a total value of $92,327.85.
• 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.

NET Power Price Performance

Shares of NPWR stock opened at $1.91 on Friday. The stock’s fifty day simple moving average is $1.65 and its 200 day simple moving average is $1.75. NET Power Inc. has a one year low of $1.35 and a one year high of $5.20. The firm has a market cap of $428.36 million, a price-to-earnings ratio of -0.30 and a beta of 1.10.

NET Power (NYSE:NPWR) last released 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).

Institutional Trading of NET Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC grew its holdings in NET Power by 190.0% during the 2nd quarter. Tidal Investments LLC now owns 1,546,562 shares of the company’s stock worth $2,583,000 after acquiring an additional 1,013,309 shares during the last quarter. Renaissance Technologies LLC increased its position in NET Power by 644.0% in the 1st quarter. Renaissance Technologies LLC now owns 703,800 shares of the company’s stock valued at $1,098,000 after acquiring an additional 609,200 shares in the last quarter. CenterBook Partners LP raised its stake in shares of NET Power by 48.0% in the fourth quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock worth $4,214,000 after acquiring an additional 599,725 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position 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 worth $7,015,000 after purchasing an additional 400,000 shares in the last quarter. Finally, Caption Management LLC lifted its position in shares of NET Power by 619.8% during the second 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. 53.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NPWR has been the subject of several analyst reports. Weiss Ratings raised shares of NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Wall Street Zen cut shares of NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.