NET Power (NYSE:NPWR) Shares Down 7.3% on Insider Selling

NET Power Inc. (NYSE:NPWR) shares fell 7.3% on Thursday after an insider sold shares in the company. The company traded as low as $2.18 and last traded at $2.2350. 407,750 shares were traded during trading, a decline of 49% from the average session volume of 801,070 shares. The stock had previously closed at $2.41.

Specifically, major shareholder 8 Rivers Capital, Llc sold 35,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $2.43, for a total transaction of $85,050.00. Following the sale, the insider directly owned 2,965,000 shares of the company’s stock, valued at $7,204,950. The trade was a 1.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 8 Rivers Capital, Llc sold 400,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $2.44, for a total value of $976,000.00. Following the completion of the transaction, the insider owned 3,000,000 shares of the company’s stock, valued at $7,320,000. This trade represents a 11.76% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wall Street Zen downgraded NET Power from a “sell” rating to a “strong sell” rating in a report on Saturday. Weiss Ratings upgraded shares of NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.50.

NET Power Trading Down 3.8%

The business has a fifty day moving average price of $1.78 and a two-hundred day moving average price of $2.31. The company has a market cap of $479.14 million, a price-to-earnings ratio of -0.36 and a beta of 1.03.

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

Institutional Investors Weigh In On NET Power

A number of institutional investors have recently modified their holdings of the stock. CenterBook Partners LP grew its stake in NET Power by 78.8% in the third quarter. CenterBook Partners LP now owns 1,248,348 shares of the company’s stock valued at $3,758,000 after purchasing an additional 550,270 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of NET Power during the 3rd quarter worth about $105,000. Stonegate Investment Group LLC raised its stake 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 worth $90,000 after purchasing an additional 5,000 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of NET Power during the 4th quarter valued at about $25,000. Finally, Invesco Ltd. acquired a new stake in shares of NET Power during the 2nd quarter valued at about $25,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

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.