NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 120,000 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 120,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $1.54, for a total transaction of $184,800.00. Following the completion of the sale, the insider owned 2,380,000 shares in the company, valued at $3,665,200. This represents a 4.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 Thursday, August 6th, 8 Rivers Capital, Llc sold 89,255 shares of NET Power stock. The stock was sold at an average price of $1.51, for a total value of $134,775.05.
• On Wednesday, August 5th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The shares were sold at an average price of $1.51, for a total value of $211,400.00.
• On Thursday, July 30th, 8 Rivers Capital, Llc sold 155,000 shares of NET Power stock. The shares were sold at an average price of $1.43, for a total transaction of $221,650.00.
• On Wednesday, July 29th, 8 Rivers Capital, Llc sold 45,000 shares of NET Power stock. The stock was sold at an average price of $1.41, for a total transaction of $63,450.00.
• On Tuesday, July 28th, 8 Rivers Capital, Llc sold 55,858 shares of NET Power stock. The shares were sold at an average price of $1.47, for a total value of $82,111.26.
• On Wednesday, May 13th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The shares were sold at an average price of $2.43, for a total transaction of $85,050.00.
• On Tuesday, May 12th, 8 Rivers Capital, Llc sold 400,000 shares of NET Power stock. The stock was sold at an average price of $2.44, for a total transaction of $976,000.00.

NET Power Stock Down 1.6%

Shares of NYSE:NPWR opened at $1.50 on Friday. The business’s 50 day moving average is $1.64 and its 200 day moving average is $1.83. The stock has a market cap of $335.51 million, a P/E ratio of -0.25 and a beta of 1.07. NET Power Inc. has a 52-week low of $1.35 and a 52-week high of $5.20.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NPWR. Weiss Ratings lowered NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 27th. Wall Street Zen lowered shares of NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. One 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 a consensus rating of “Hold” and a consensus price target of $3.50.

Institutional Trading of NET Power

Hedge funds have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. increased 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 buying an additional 400,000 shares in the last quarter. CenterBook Partners LP grew 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 acquiring an additional 599,725 shares during the period. Geode Capital Management LLC grew its stake in NET Power by 21.4% in the 2nd quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock valued at $2,078,000 after acquiring an additional 148,307 shares during the period. Two Sigma Investments LP increased its holdings in NET Power by 36.7% in the 3rd quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock worth $2,474,000 after acquiring an additional 220,831 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in NET Power by 644.0% in the 1st quarter. Renaissance Technologies LLC now owns 703,800 shares of the company’s stock worth $1,098,000 after acquiring an additional 609,200 shares in the last quarter. 53.62% of the stock is owned by hedge funds and other institutional investors.

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.