NET Power Inc. (NYSE:NPWR – Get Free Report) major shareholder 8 Rivers Capital, Llc sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $1.60, for a total value of $56,000.00. Following the sale, the insider owned 2,000,000 shares in the company, valued at approximately $3,200,000. This trade represents a 1.72% 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. Large 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 stock was sold at an average price of $1.55, for a total value 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 stock was 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 stock was 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 shares were sold at an average price of $1.43, for a total transaction 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 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 stock was sold at an average price of $2.43, for a total transaction of $85,050.00.
NET Power Stock Performance
NYSE NPWR opened at $1.62 on Thursday. The company has a market cap of $363.56 million, a PE ratio of -0.28 and a beta of 1.07. The firm’s 50 day moving average price is $1.61 and its 200-day moving average price is $1.81. NET Power Inc. has a 52-week low of $1.35 and a 52-week high of $5.20.
Institutional Investors Weigh In On NET Power
A number of large investors have recently made changes to their positions in the stock. CenterBook Partners LP increased its stake in shares of NET Power by 48.0% in the 4th quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock worth $4,214,000 after acquiring an additional 599,725 shares during the last quarter. Integrity Alliance LLC. acquired a new stake in shares of NET Power during the fourth quarter valued at about $40,000. JPMorgan Chase & Co. raised its position in NET Power by 1,226.9% in the third quarter. JPMorgan Chase & Co. now owns 212,929 shares of the company’s stock valued at $641,000 after purchasing an additional 196,882 shares during the period. Bank of America Corp DE raised its holdings in shares of NET Power by 40.1% in the 1st quarter. Bank of America Corp DE now owns 35,083 shares of the company’s stock valued at $55,000 after buying an additional 10,034 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in NET Power during the fourth quarter worth about $25,000. 53.62% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on NPWR shares. Weiss Ratings upgraded NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. Wall Street Zen downgraded NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.50.
Read Our Latest Analysis on NET Power
About NET Power
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.
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