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

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $1.60, for a total transaction of $56,000.00. Following the completion of the sale, the insider owned 2,000,000 shares of the company’s stock, valued at approximately $3,200,000. The trade was a 1.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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, August 10th, 8 Rivers Capital, Llc sold 55,400 shares of NET Power stock. The shares were sold at an average price of $1.55, for a total transaction of $85,870.00.
• On Friday, August 7th, 8 Rivers Capital, Llc sold 60,345 shares of NET Power stock. The stock was sold at an average price of $1.53, for a total transaction of $92,327.85.
• 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 transaction 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 transaction 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 shares were 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 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 stock was sold at an average price of $2.43, for a total value of $85,050.00.

NET Power Price Performance

NET Power stock traded up $0.04 during trading hours on Tuesday, reaching $1.61. The company had a trading volume of 410,855 shares, compared to its average volume of 780,263. The company has a 50-day moving average price of $1.62 and a 200 day moving average price of $1.82. The firm has a market cap of $362.44 million, a price-to-earnings ratio of -0.27 and a beta of 1.07. NET Power Inc. has a 12-month low of $1.35 and a 12-month high of $5.20.

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

Hedge Funds Weigh In On NET Power

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in NET Power by 21.4% in the second quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock worth $2,078,000 after acquiring an additional 148,307 shares during the period. JPMorgan Chase & Co. increased its position in NET Power by 48.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock valued at $40,000 after purchasing an additional 5,255 shares during the period. Invesco Ltd. purchased a new position in NET Power during the 2nd quarter valued at $25,000. Federated Hermes Inc. bought a new position in NET Power in the 2nd quarter worth $151,000. Finally, Sei Investments Co. bought a new position in NET Power in the 2nd quarter worth $32,000. 53.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NPWR. Weiss Ratings cut 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 shares of NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.