Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells $92,327.85 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 60,345 shares of NET Power stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $1.53, for a total value of $92,327.85. Following the completion of the transaction, the insider owned 2,090,400 shares of the company’s stock, valued at $3,198,312. This trade represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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, 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 value of $56,000.00.
• 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 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 value of $134,775.05.
• 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 shares were sold at an average price of $1.54, for a total transaction 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 stock was 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 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 value of $85,050.00.

NET Power Trading Up 2.9%

NPWR traded up $0.04 during trading on Tuesday, reaching $1.61. 410,855 shares of the company were exchanged, compared to its average volume of 780,263. NET Power Inc. has a 52 week low of $1.35 and a 52 week high of $5.20. The firm has a 50 day moving average of $1.62 and a 200 day moving average of $1.82. The stock has a market cap of $362.44 million, a P/E ratio of -0.27 and a beta of 1.07.

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

Analyst Ratings Changes

Several research analysts have commented on NPWR shares. Wall Street Zen cut shares of NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. Weiss Ratings downgraded NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 27th. 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’s stock. According to data from MarketBeat.com, NET Power presently has a consensus rating of “Hold” and an average price target of $3.50.

Hedge Funds Weigh In On NET Power

Large investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. raised its position in shares of NET Power by 16.4% during 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 buying an additional 400,000 shares in the last quarter. CenterBook Partners LP increased its stake in shares of NET Power by 48.0% during the fourth quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock valued at $4,214,000 after acquiring an additional 599,725 shares during the period. Geode Capital Management LLC raised its holdings in NET Power by 21.4% during the second 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 boosted its stake in NET Power by 36.7% during the third quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock valued at $2,474,000 after buying an additional 220,831 shares in the last quarter. Finally, Renaissance Technologies LLC boosted 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 valued at $1,098,000 after buying an additional 609,200 shares in the last quarter. Institutional investors and hedge funds own 53.62% of the company’s stock.

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.