8 Rivers Capital, Llc Sells 250,000 Shares of NET Power (NYSE:NPWR) Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 250,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $2.57, for a total transaction of $642,500.00. Following the sale, the insider owned 3,250,000 shares in the company, valued at $8,352,500. This represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 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 Monday, November 17th, 8 Rivers Capital, Llc sold 338,653 shares of NET Power stock. The stock was sold at an average price of $2.81, for a total value of $951,614.93.
• On Monday, November 3rd, 8 Rivers Capital, Llc sold 8,477 shares of NET Power stock. The stock was sold at an average price of $4.00, for a total value of $33,908.00.
• On Friday, October 31st, 8 Rivers Capital, Llc sold 18,116 shares of NET Power stock. The shares were sold at an average price of $4.05, for a total value of $73,369.80.
• On Tuesday, October 28th, 8 Rivers Capital, Llc sold 7,585 shares of NET Power stock. The shares were sold at an average price of $3.77, for a total value of $28,595.45.
• On Thursday, October 30th, 8 Rivers Capital, Llc sold 107,754 shares of NET Power stock. The shares were sold at an average price of $4.04, for a total value of $435,326.16.
• On Wednesday, October 29th, 8 Rivers Capital, Llc sold 786,832 shares of NET Power stock. The shares were sold at an average price of $4.12, for a total value of $3,241,747.84.
• On Monday, October 27th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The stock was sold at an average price of $3.77, for a total value of $754,000.00.
• On Friday, October 24th, 8 Rivers Capital, Llc sold 32,583 shares of NET Power stock. The shares were sold at an average price of $3.70, for a total transaction of $120,557.10.
• On Thursday, October 23rd, 8 Rivers Capital, Llc sold 284,100 shares of NET Power stock. The shares were sold at an average price of $3.69, for a total transaction of $1,048,329.00.
• On Wednesday, October 22nd, 8 Rivers Capital, Llc sold 89,000 shares of NET Power stock. The stock was sold at an average price of $3.31, for a total transaction of $294,590.00.

NET Power Price Performance

Shares of NYSE:NPWR traded down $0.15 during trading hours on Wednesday, hitting $2.54. 1,679,434 shares of the company’s stock traded hands, compared to its average volume of 1,466,042. The firm has a market capitalization of $555.72 million, a P/E ratio of -0.33 and a beta of 0.78. NET Power Inc. has a 1 year low of $1.48 and a 1 year high of $14.12. The business has a fifty day moving average price of $3.30 and a 200-day moving average price of $2.74.

NET Power (NYSE:NPWR) last posted its quarterly earnings results on Thursday, November 13th. The company reported $5.84 EPS for the quarter, topping the consensus estimate of ($0.16) by $6.00. As a group, equities analysts predict that NET Power Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of NET Power

A number of hedge funds have recently bought and sold shares of NPWR. Worth Venture Partners LLC bought a new stake in NET Power during the 3rd quarter valued at $209,000. Sig Brokerage LP raised its position in shares of NET Power by 50.3% in the 3rd quarter. Sig Brokerage LP now owns 24,298 shares of the company’s stock worth $73,000 after acquiring an additional 8,130 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of NET Power by 555.0% during the 3rd quarter. Bank of America Corp DE now owns 153,294 shares of the company’s stock worth $461,000 after purchasing an additional 129,889 shares during the last quarter. Alliancebernstein L.P. boosted its position in NET Power by 11.1% during the third quarter. Alliancebernstein L.P. now owns 101,680 shares of the company’s stock valued at $306,000 after purchasing an additional 10,200 shares in the last quarter. Finally, Brooklyn Investment Group boosted its position in NET Power by 2,113.1% during the third quarter. Brooklyn Investment Group now owns 27,000 shares of the company’s stock valued at $81,000 after purchasing an additional 25,780 shares in the last quarter. Hedge funds and other institutional investors own 53.62% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NET Power in a research note on Wednesday, October 8th. Barclays upgraded NET Power from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $2.00 to $3.00 in a report on Friday, November 14th. Finally, Citigroup cut their price target on NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday. One research 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $3.50.

About NET Power

NET Power Inc operates as a clean energy technology company. The company invents, develops, and licenses clean power generation technology. NET Power Inc was founded in 2010 and is headquartered in Durham, North Carolina.