NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 35,000 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 35,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $2.43, for a total transaction of $85,050.00. Following the sale, the insider directly owned 2,965,000 shares of the company’s stock, valued at approximately $7,204,950. This represents a 1.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% 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 Tuesday, May 12th, 8 Rivers Capital, Llc sold 400,000 shares of NET Power stock. The shares were sold at an average price of $2.44, for a total transaction of $976,000.00.
• On Tuesday, March 3rd, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.04, for a total transaction of $204,000.00.
• On Monday, March 2nd, 8 Rivers Capital, Llc sold 79,858 shares of NET Power stock. The shares were sold at an average price of $2.05, for a total transaction of $163,708.90.
• On Friday, February 27th, 8 Rivers Capital, Llc sold 4,744 shares of NET Power stock. The shares were sold at an average price of $2.00, for a total transaction of $9,488.00.
• On Thursday, February 26th, 8 Rivers Capital, Llc sold 1,881 shares of NET Power stock. The shares were sold at an average price of $2.00, for a total transaction of $3,762.00.
• On Friday, February 20th, 8 Rivers Capital, Llc sold 63,517 shares of NET Power stock. The shares were sold at an average price of $2.03, for a total transaction of $128,939.51.
• On Thursday, February 19th, 8 Rivers Capital, Llc sold 125,000 shares of NET Power stock. The shares were sold at an average price of $2.14, for a total transaction of $267,500.00.
• On Wednesday, February 18th, 8 Rivers Capital, Llc sold 75,000 shares of NET Power stock. The shares were sold at an average price of $2.07, for a total transaction of $155,250.00.
• On Friday, February 13th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.14, for a total transaction of $214,000.00.

NET Power Trading Down 8.1%

Shares of NYSE NPWR opened at $2.22 on Friday. NET Power Inc. has a 12-month low of $1.46 and a 12-month high of $5.20. The stock has a market cap of $497.09 million, a PE ratio of -0.38 and a beta of 1.03. The company has a 50-day moving average of $1.78 and a 200 day moving average of $2.31.

NET Power (NYSE:NPWR) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.05).

Hedge Funds Weigh In On NET Power

Several institutional investors and hedge funds have recently bought and sold shares of NPWR. Invesco Ltd. acquired a new position in NET Power in the 2nd quarter valued at about $25,000. Schonfeld Strategic Advisors LLC acquired a new position in NET Power in the 4th quarter valued at about $25,000. Summit Securities Group LLC acquired a new position in NET Power in the 1st quarter valued at about $30,000. Sei Investments Co. acquired a new position in NET Power in the 2nd quarter valued at about $32,000. Finally, Quantbot Technologies LP acquired a new position in NET Power in the 3rd quarter valued at about $39,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. 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 company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.