Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells 60,000 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 60,000 shares of NET Power stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $2.02, for a total transaction of $121,200.00. Following the completion of the sale, the insider owned 1,100,000 shares of the company’s stock, valued at $2,222,000. This trade represents a 5.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 Thursday, February 12th, 8 Rivers Capital, Llc sold 150,000 shares of NET Power stock. The shares were sold at an average price of $2.03, for a total value of $304,500.00.
• On Tuesday, February 10th, 8 Rivers Capital, Llc sold 40,000 shares of NET Power stock. The shares were sold at an average price of $2.08, for a total transaction of $83,200.00.
• On Thursday, January 29th, 8 Rivers Capital, Llc sold 54,780 shares of NET Power stock. The stock was sold at an average price of $2.35, for a total transaction of $128,733.00.
• 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 value of $155,223.60.
• On Tuesday, January 27th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.38, for a total value of $238,000.00.
• 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 transaction 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 shares were 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 transaction of $375,700.00.
• On Tuesday, December 23rd, 8 Rivers Capital, Llc sold 130,000 shares of NET Power stock. The stock was sold at an average price of $2.17, for a total transaction of $282,100.00.

NET Power Trading Up 2.5%

Shares of NET Power stock traded up $0.05 on Thursday, hitting $2.05. The stock had a trading volume of 2,110,113 shares, compared to its average volume of 844,190. The stock has a market cap of $455.39 million, a price-to-earnings ratio of -0.27 and a beta of 0.82. NET Power Inc. has a 52-week low of $1.48 and a 52-week high of $8.27. The company’s 50 day moving average price is $2.45 and its 200 day moving average price is $2.79.

NET Power (NYSE:NPWR) last issued its quarterly earnings results on Thursday, November 13th. The company reported $5.84 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $6.00. Analysts predict that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On NET Power

Hedge funds have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. grew its position in shares of NET Power by 16.4% in 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 purchasing an additional 400,000 shares during the last quarter. CenterBook Partners LP lifted its stake in NET Power by 48.0% in the 4th quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock valued at $4,214,000 after buying an additional 599,725 shares in the last quarter. Geode Capital Management LLC grew its holdings in NET Power by 21.4% during the 2nd quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock valued at $2,078,000 after buying an additional 148,307 shares during the last quarter. Two Sigma Investments LP grew its holdings in NET Power by 36.7% during the 3rd quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock valued at $2,474,000 after buying an additional 220,831 shares during the last quarter. Finally, Empowered Funds LLC increased its position in NET Power by 99.3% during the fourth quarter. Empowered Funds LLC now owns 444,734 shares of the company’s stock worth $1,014,000 after buying an additional 221,530 shares in the last quarter. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Citigroup lowered their target price on shares of NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NET Power in a report on Thursday, January 22nd. Finally, Barclays upgraded NET Power from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $2.00 to $3.00 in a research report on Friday, November 14th. 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, NET Power currently has an average rating of “Hold” and a consensus price target of $3.50.

NET Power Company Profile

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.