NET Power (NYSE:NPWR) Major Shareholder Sells $305,500.00 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 130,000 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $2.35, for a total transaction of $305,500.00. Following the sale, the insider directly owned 1,420,000 shares of the company’s stock, valued at approximately $3,337,000. The trade was a 8.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

8 Rivers Capital, Llc also recently made the following trade(s):

• 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 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 stock was sold at an average price of $2.74, for a total transaction of $369,900.00.
• On Wednesday, December 24th, 8 Rivers Capital, Llc sold 170,000 shares of NET Power stock. The stock was 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.
• On Monday, December 22nd, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.26, for a total transaction of $226,000.00.
• On Friday, December 19th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.34, for a total transaction of $234,000.00.
• On Tuesday, December 9th, 8 Rivers Capital, Llc sold 40,000 shares of NET Power stock. The stock was sold at an average price of $2.82, for a total value of $112,800.00.
• On Monday, December 8th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The shares were sold at an average price of $2.81, for a total value of $393,400.00.

NET Power Price Performance

Shares of NPWR stock traded down $0.04 on Wednesday, reaching $2.34. 685,830 shares of the stock were exchanged, compared to its average volume of 811,157. NET Power Inc. has a one year low of $1.48 and a one year high of $8.98. The stock has a market cap of $518.70 million, a PE ratio of -0.31 and a beta of 0.81. The stock has a 50 day moving average price of $2.56 and a 200 day moving average price of $2.84.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Barclays raised shares of NET Power from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $2.00 to $3.00 in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NET Power in a research note on Thursday, January 22nd. Finally, Citigroup cut their target price on NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, NET Power presently has a consensus rating of “Hold” and an average price target of $3.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stonegate Investment Group LLC lifted its holdings in shares of NET Power by 20.0% during the 3rd quarter. Stonegate Investment Group LLC now owns 30,000 shares of the company’s stock valued at $90,000 after purchasing an additional 5,000 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of NET Power by 48.7% in the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock valued at $40,000 after buying an additional 5,255 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of NET Power by 44.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company’s stock worth $46,000 after acquiring an additional 5,739 shares in the last quarter. Engineers Gate Manager LP raised its holdings in shares of NET Power by 17.8% during the second quarter. Engineers Gate Manager LP now owns 46,433 shares of the company’s stock worth $115,000 after acquiring an additional 7,002 shares during the period. Finally, Sig Brokerage LP lifted its holdings in shares of NET Power by 50.3% in the third quarter. Sig Brokerage LP now owns 24,298 shares of the company’s stock valued at $73,000 after purchasing an additional 8,130 shares in the last quarter. 53.62% of the stock is owned by institutional investors and hedge funds.

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.