Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells 65,000 Shares of Stock

NET Power Inc. (NYSE:NPWRGet Free Report) major shareholder 8 Rivers Capital, Llc sold 65,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $2.94, for a total transaction of $191,100.00. Following the completion of the sale, the insider directly owned 2,835,000 shares of the company’s stock, valued at $8,334,900. The trade was a 2.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more 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 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.
  • On Friday, December 5th, 8 Rivers Capital, Llc sold 105,000 shares of NET Power stock. The shares were sold at an average price of $2.91, for a total value of $305,550.00.
  • On Friday, November 28th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The shares were sold at an average price of $2.94, for a total value of $588,000.00.
  • On Friday, November 21st, 8 Rivers Capital, Llc sold 17,163 shares of NET Power stock. The stock was sold at an average price of $2.50, for a total value of $42,907.50.
  • On Thursday, November 20th, 8 Rivers Capital, Llc sold 132,837 shares of NET Power stock. The stock was sold at an average price of $2.60, for a total value of $345,376.20.
  • On Wednesday, November 19th, 8 Rivers Capital, Llc sold 250,000 shares of NET Power stock. The stock was sold at an average price of $2.57, for a total value of $642,500.00.
  • On Monday, November 17th, 8 Rivers Capital, Llc sold 338,653 shares of NET Power stock. The shares were sold at an average price of $2.81, for a total value of $951,614.93.
  • On Monday, November 3rd, 8 Rivers Capital, Llc sold 8,477 shares of NET Power stock. The shares were sold at an average price of $4.00, for a total value of $33,908.00.
  • On Friday, October 31st, 8 Rivers Capital, Llc sold 18,116 shares of NET Power stock. The stock was sold at an average price of $4.05, for a total value of $73,369.80.
  • On Tuesday, October 28th, 8 Rivers Capital, Llc sold 7,585 shares of NET Power stock. The stock was sold at an average price of $3.77, for a total value of $28,595.45.

NET Power Trading Down 3.3%

NPWR stock traded down $0.10 during mid-day trading on Monday, reaching $2.76. 788,773 shares of the stock traded hands, compared to its average volume of 1,444,846. NET Power Inc. has a 52-week low of $1.48 and a 52-week high of $11.83. The stock’s fifty day moving average is $3.36 and its 200-day moving average is $2.83. The company has a market cap of $612.00 million, a P/E ratio of -0.36 and a beta of 0.80.

NET Power (NYSE:NPWRGet Free Report) last released its earnings results on Thursday, November 13th. The company reported $5.84 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $6.00. Equities research analysts expect that NET Power Inc. will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On NET Power

Institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new position in shares of NET Power during the 2nd quarter valued at $25,000. Invesco Ltd. purchased a new stake in shares of NET Power during the second quarter worth $25,000. Sei Investments Co. acquired a new stake in NET Power during the second quarter valued at $32,000. Deutsche Bank AG grew its stake in NET Power by 63.0% in the first quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock valued at $37,000 after purchasing an additional 5,429 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in NET Power in the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NPWR. Weiss Ratings reissued a “sell (d-)” rating on shares of NET Power in a research note on Wednesday, October 8th. Barclays raised NET Power from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $2.00 to $3.00 in a research report on Friday, November 14th. Finally, Citigroup reduced their price objective on NET Power from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $3.50.

View Our Latest Research Report on NET Power

NET Power Company Profile

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for NET Power (NYSE:NPWR)

Receive News & Ratings for NET Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NET Power and related companies with MarketBeat.com's FREE daily email newsletter.