Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells $134,775.05 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 89,255 shares of NET Power stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $1.51, for a total value of $134,775.05. Following the completion of the sale, the insider owned 2,150,745 shares of the company’s stock, valued at approximately $3,247,624.95. The trade was a 3.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 5th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The shares were 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 stock was 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 transaction of $63,450.00.
• On Tuesday, July 28th, 8 Rivers Capital, Llc sold 55,858 shares of NET Power stock. The shares were sold at an average price of $1.47, for a total transaction of $82,111.26.
• On Wednesday, May 13th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The shares were sold at an average price of $2.43, for a total transaction of $85,050.00.
• On Tuesday, May 12th, 8 Rivers Capital, Llc sold 400,000 shares of NET Power stock. The stock was sold at an average price of $2.44, for a total transaction of $976,000.00.

NET Power Stock Up 1.7%

Shares of NYSE NPWR opened at $1.52 on Friday. The firm has a market cap of $342.23 million, a PE ratio of -0.26 and a beta of 1.07. The company’s fifty day simple moving average is $1.63 and its 200 day simple moving average is $1.83. NET Power Inc. has a 12-month low of $1.35 and a 12-month high of $5.20.

NET Power (NYSE:NPWR) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.05).

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NPWR shares. Wall Street Zen downgraded NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Weiss Ratings cut NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, NET Power has a consensus rating of “Hold” and an average price target of $3.50.

Institutional Investors Weigh In On NET Power

Hedge funds and other institutional investors have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. raised its holdings in shares of NET Power by 16.4% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock worth $7,015,000 after acquiring an additional 400,000 shares during the last quarter. CenterBook Partners LP boosted its stake in NET Power by 48.0% during the 4th quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock valued at $4,214,000 after purchasing an additional 599,725 shares during the last quarter. Geode Capital Management LLC increased its holdings in NET Power by 21.4% during the 2nd quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock worth $2,078,000 after purchasing an additional 148,307 shares in the last quarter. Two Sigma Investments LP increased its holdings in NET Power by 36.7% during the 3rd quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock worth $2,474,000 after purchasing an additional 220,831 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in NET Power by 644.0% during the 1st 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 in the last quarter. 53.62% of the stock is 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.