Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells 40,000 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 40,000 shares of NET Power stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2.82, for a total transaction of $112,800.00. Following the completion of the sale, the insider owned 2,550,000 shares of the company’s stock, valued at $7,191,000. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more 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 Monday, December 8th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The shares were 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 stock was sold at an average price of $2.91, for a total transaction of $305,550.00.
• On Thursday, December 4th, 8 Rivers Capital, Llc sold 65,000 shares of NET Power stock. The stock was sold at an average price of $2.94, for a total transaction of $191,100.00.
• 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 transaction of $588,000.00.
• On Friday, November 21st, 8 Rivers Capital, Llc sold 17,163 shares of NET Power stock. The shares were 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 shares were 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 stock was 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.

NET Power Stock Performance

NYSE NPWR traded up $0.04 during trading hours on Thursday, reaching $2.74. The stock had a trading volume of 520,086 shares, compared to its average volume of 1,433,638. NET Power Inc. has a 52-week low of $1.48 and a 52-week high of $11.83. The stock has a fifty day moving average of $3.34 and a 200 day moving average of $2.84. The stock has a market cap of $608.00 million, a P/E ratio of -0.36 and a beta of 0.80.

NET Power (NYSE:NPWR) last announced its quarterly earnings data on Thursday, November 13th. The company reported $5.84 EPS for the quarter, beating the consensus estimate of ($0.16) by $6.00. On average, equities research analysts forecast that NET Power Inc. will post -0.4 EPS for the current year.

Hedge Funds Weigh In On NET Power

Several institutional investors and hedge funds have recently modified their holdings of NPWR. Deutsche Bank AG raised its holdings in NET Power by 63.0% in the 1st quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock worth $37,000 after purchasing an additional 5,429 shares during the period. Nuveen LLC purchased a new stake in shares of NET Power in the first quarter valued at approximately $136,000. Quantbot Technologies LP acquired a new position in shares of NET Power during the 1st quarter worth approximately $221,000. HITE Hedge Asset Management LLC lifted its position in shares of NET Power by 80.6% during the 1st quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company’s stock valued at $1,955,000 after buying an additional 331,726 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of NET Power during the 1st quarter valued at approximately $126,000. Hedge funds and other institutional investors own 53.62% of the company’s stock.

Wall Street Analysts Forecast Growth

NPWR has been the subject of a number of research reports. Citigroup decreased their target price on shares of NET Power from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NET Power in a research note on Wednesday, October 8th. Finally, Barclays upgraded NET Power from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $2.00 to $3.00 in a research note on Friday, November 14th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NET Power has an average rating of “Hold” and an average target price of $3.50.

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.