NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 89,255 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 89,255 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $1.51, for a total value of $134,775.05. Following the transaction, the insider directly owned 2,150,745 shares of the company’s stock, valued at approximately $3,247,624.95. This trade represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% 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 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 Tuesday, August 4th, 8 Rivers Capital, Llc sold 120,000 shares of NET Power stock. The shares were sold at an average price of $1.54, for a total value of $184,800.00.
• On Thursday, July 30th, 8 Rivers Capital, Llc sold 155,000 shares of NET Power stock. The stock was sold at an average price of $1.43, for a total value 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 value of $63,450.00.
• On Tuesday, July 28th, 8 Rivers Capital, Llc sold 55,858 shares of NET Power stock. The stock was 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 value 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 Performance

Shares of NYSE NPWR opened at $1.50 on Friday. NET Power Inc. has a one year low of $1.35 and a one year high of $5.20. The firm has a market capitalization of $335.51 million, a P/E ratio of -0.25 and a beta of 1.07. The company’s fifty day moving average is $1.64 and its two-hundred day moving average is $1.83.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NPWR. CenterBook Partners LP grew its position in shares of NET Power by 48.0% in the fourth quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock valued at $4,214,000 after purchasing an additional 599,725 shares during the last quarter. Integrity Alliance LLC. purchased a new position in shares of NET Power during the 4th quarter worth approximately $40,000. JPMorgan Chase & Co. raised its position in shares of NET Power by 1,226.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,929 shares of the company’s stock worth $641,000 after purchasing an additional 196,882 shares during the last quarter. Bank of America Corp DE raised its position in shares of NET Power by 40.1% during the 1st quarter. Bank of America Corp DE now owns 35,083 shares of the company’s stock worth $55,000 after purchasing an additional 10,034 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of NET Power during the 4th quarter worth approximately $25,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NPWR. Weiss Ratings downgraded shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 27th. Wall Street Zen cut NET Power from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.