8 Rivers Capital, Llc Sells 150,000 Shares of NET Power (NYSE:NPWR) Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $1.84, for a total value of $276,000.00. Following the completion of the sale, the insider owned 750,000 shares of the company’s stock, valued at $1,380,000. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, September 8th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $1.94, for a total value of $194,000.00.
• On Wednesday, August 26th, 8 Rivers Capital, Llc sold 41,350 shares of NET Power stock. The stock was sold at an average price of $1.91, for a total value of $78,978.50.
• On Tuesday, August 25th, 8 Rivers Capital, Llc sold 201,550 shares of NET Power stock. The stock was sold at an average price of $1.91, for a total value of $384,960.50.
• On Friday, August 14th, 8 Rivers Capital, Llc sold 507,100 shares of NET Power stock. The shares were 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 stock was sold at an average price of $1.60, for a total value 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 shares were sold at an average price of $1.51, for a total transaction of $134,775.05.

NET Power Trading Down 2.4%

NET Power stock traded down $0.04 during midday trading on Thursday, hitting $1.80. 389,056 shares of the stock were exchanged, compared to its average volume of 816,415. The stock’s 50-day simple moving average is $1.65 and its 200 day simple moving average is $1.75. NET Power Inc. has a fifty-two week low of $1.35 and a fifty-two week high of $5.20. The stock has a market capitalization of $405.87 million, a price-to-earnings ratio of -0.28 and a beta of 1.10.

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

Hedge Funds Weigh In On NET Power

Several hedge funds have recently bought and sold shares of NPWR. Tidal Investments LLC boosted its holdings in NET Power by 190.0% during the 2nd quarter. Tidal Investments LLC now owns 1,546,562 shares of the company’s stock valued at $2,583,000 after acquiring an additional 1,013,309 shares during the period. Renaissance Technologies LLC increased its stake in NET Power by 644.0% during the first quarter. Renaissance Technologies LLC now owns 703,800 shares of the company’s stock worth $1,098,000 after purchasing an additional 609,200 shares during the period. CenterBook Partners LP increased its stake in NET Power by 48.0% during the fourth quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock worth $4,214,000 after purchasing an additional 599,725 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in shares of NET Power by 16.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock worth $7,015,000 after purchasing an additional 400,000 shares in the last quarter. Finally, Caption Management LLC lifted its position in shares of NET Power by 619.8% during the second quarter. Caption Management LLC now owns 401,899 shares of the company’s stock worth $993,000 after purchasing an additional 346,068 shares in the last quarter. Institutional investors and hedge funds own 53.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Weiss Ratings upgraded NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a research report 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 investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, NET Power presently has a consensus rating of “Hold” and a consensus price target of $3.50.

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.