NET Power (NYSE:NPWR) Hits New 52-Week Low After Insider Selling

NET Power Inc. (NYSE:NPWR) shares hit a new 52-week low during trading on Monday after an insider sold shares in the company. The company traded as low as $7.39 and last traded at $7.45, with a volume of 653174 shares changing hands. The stock had previously closed at $7.84.

Specifically, major shareholder Npeh, Llc sold 66,825 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $7.88, for a total value of $526,581.00. Following the transaction, the insider now directly owns 189,329 shares of the company’s stock, valued at $1,491,912.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Npeh, Llc sold 83,325 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $8.10, for a total transaction of $674,932.50. Following the sale, the insider now owns 416,675 shares of the company’s stock, valued at approximately $3,375,067.50. The disclosure for this sale can be found here.

Analyst Ratings Changes

Separately, Barclays decreased their price objective on NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 14th.

NET Power Stock Performance

The stock’s fifty day moving average is $8.86 and its 200-day moving average is $9.75.

NET Power (NYSE:NPWR) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter. The firm had revenue of $0.24 million for the quarter. Equities analysts forecast that NET Power Inc. will post -0.4 EPS for the current year.

Institutional Investors Weigh In On NET Power

Several large investors have recently modified their holdings of NPWR. B. Riley Wealth Advisors Inc. bought a new stake in shares of NET Power during the second quarter worth $136,000. Encompass Capital Advisors LLC bought a new position in NET Power during the 2nd quarter worth about $20,537,000. ELCO Management Co. LLC raised its stake in shares of NET Power by 13.4% in the 2nd quarter. ELCO Management Co. LLC now owns 20,924 shares of the company’s stock valued at $206,000 after purchasing an additional 2,474 shares during the period. Squarepoint Ops LLC bought a new stake in shares of NET Power in the second quarter valued at about $470,000. Finally, K2 Principal Fund L.P. boosted its position in shares of NET Power by 153.9% during the second quarter. K2 Principal Fund L.P. now owns 33,037 shares of the company’s stock worth $325,000 after buying an additional 20,026 shares during the period. 53.62% of the stock is currently owned by institutional investors.

NET Power Company Profile

NET Power Inc operates as a clean energy technology company. The company invents, develops, and licenses clean power generation technology. NET Power Inc was founded in 2010 and is headquartered in Durham, North Carolina.