NET Power Inc. (NYSE:NPWR – Get Free Report) major shareholder 8 Rivers Capital, Llc sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $1.41, for a total transaction of $63,450.00. Following the sale, the insider directly owned 2,655,000 shares in the company, valued at approximately $3,743,550. The trade was a 1.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 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 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 Trading Up 8.5%
NYSE:NPWR traded up $0.12 during trading hours on Thursday, reaching $1.48. The company had a trading volume of 731,040 shares, compared to its average volume of 800,047. The firm has a market cap of $331.02 million, a price-to-earnings ratio of -0.25 and a beta of 1.06. The firm’s 50 day moving average price is $1.70 and its 200-day moving average price is $1.89. NET Power Inc. has a 52 week low of $1.35 and a 52 week high of $5.20.
Analysts Set New Price Targets
NPWR has been the topic of a number of recent research reports. Weiss Ratings downgraded NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 27th. Wall Street Zen lowered shares of 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 assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, NET Power has a consensus rating of “Hold” and a consensus price target of $3.50.
Institutional Investors Weigh In On NET Power
A number of hedge funds have recently modified their holdings of NPWR. Invesco Ltd. purchased a new stake in shares of NET Power in the 2nd quarter worth $25,000. Schonfeld Strategic Advisors LLC purchased a new position in NET Power during the fourth quarter valued at $25,000. Sei Investments Co. purchased a new position in NET Power during the second quarter valued at $32,000. Quantbot Technologies LP bought a new stake in NET Power during the third quarter valued at about $39,000. Finally, JPMorgan Chase & Co. grew its holdings in NET Power by 48.7% during the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock valued at $40,000 after purchasing an additional 5,255 shares during the period. Institutional investors 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.
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