NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 201,550 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 201,550 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $1.91, for a total value of $384,960.50. Following the transaction, the insider directly owned 1,041,350 shares in the company, valued at approximately $1,988,978.50. The trade was a 16.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, August 26th, 8 Rivers Capital, Llc sold 41,350 shares of NET Power stock. The shares were sold at an average price of $1.91, for a total value of $78,978.50.
• On Friday, August 14th, 8 Rivers Capital, Llc sold 507,100 shares of NET Power stock. The stock was sold at an average price of $1.95, for a total value of $988,845.00.
• On Thursday, August 13th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The stock was sold at an average price of $1.62, for a total value of $324,000.00.
• On Wednesday, August 12th, 8 Rivers Capital, Llc sold 50,000 shares of NET Power stock. The stock was sold at an average price of $1.63, for a total value of $81,500.00.
• On Tuesday, August 11th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The shares were sold at an average price of $1.60, for a total transaction of $56,000.00.
• 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 shares were 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 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 transaction of $184,800.00.

NET Power Stock Up 5.2%

Shares of NET Power stock opened at $1.91 on Friday. The company has a market cap of $428.36 million, a price-to-earnings ratio of -0.30 and a beta of 1.07. The company’s 50 day moving average is $1.62 and its 200 day moving average is $1.77. NET Power Inc. has a twelve month low of $1.35 and a twelve month high of $5.20.

NET Power (NYSE:NPWR) last issued its earnings results on Thursday, August 13th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.84).

Wall Street Analyst Weigh In

NPWR has been the subject of several research analyst reports. Wall Street Zen lowered NET Power from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. Weiss Ratings downgraded NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. 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. According to data from MarketBeat, NET Power presently has a consensus rating of “Hold” and an average price target of $3.50.

Institutional Trading of NET Power

Several large investors have recently added to or reduced their stakes in the business. Invesco Ltd. purchased a new stake in NET Power during the second quarter valued at approximately $25,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of NET Power during the 4th quarter worth $25,000. Sei Investments Co. bought a new stake in shares of NET Power during the 2nd quarter valued at $32,000. Quantbot Technologies LP bought a new stake in shares of NET Power during the 3rd quarter valued at $39,000. Finally, JPMorgan Chase & Co. increased its stake in shares of NET Power by 48.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock worth $40,000 after purchasing an additional 5,255 shares in the last quarter. 53.62% of the stock is currently owned by institutional investors.

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.