NET Power Inc. (NYSE:NPWR – Get Free Report) major shareholder 8 Rivers Capital, Llc sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $1.54, for a total value of $184,800.00. Following the transaction, the insider owned 2,380,000 shares of the company’s stock, valued at $3,665,200. This represents a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
8 Rivers Capital, Llc also recently made the following trade(s):
- 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.
- 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 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 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 stock was 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 stock was 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 Price Performance
Shares of NYSE NPWR traded down $0.03 during mid-day trading on Thursday, hitting $1.50. 458,581 shares of the company’s stock traded hands, compared to its average volume of 788,476. NET Power Inc. has a 1 year low of $1.35 and a 1 year high of $5.20. The company’s 50-day moving average is $1.65 and its two-hundred day moving average is $1.84. The company has a market capitalization of $335.50 million, a P/E ratio of -0.25 and a beta of 1.07.
Hedge Funds Weigh In On NET Power
Several hedge funds have recently added to or reduced their stakes in NPWR. CenterBook Partners LP lifted its stake in NET Power by 48.0% in 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 last quarter. Integrity Alliance LLC. bought a new position in shares of NET Power during the fourth quarter valued at approximately $40,000. JPMorgan Chase & Co. raised its holdings in shares of NET Power by 1,226.9% in the third quarter. JPMorgan Chase & Co. now owns 212,929 shares of the company’s stock worth $641,000 after buying an additional 196,882 shares during the period. Bank of America Corp DE raised its holdings in shares of NET Power by 40.1% in the first quarter. Bank of America Corp DE now owns 35,083 shares of the company’s stock worth $55,000 after buying an additional 10,034 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of NET Power during the 4th quarter worth approximately $25,000. 53.62% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. Wall Street Zen cut NET Power from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. Weiss Ratings lowered NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 27th. One research 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, NET Power has a consensus rating of “Hold” and a consensus target price of $3.50.
Check Out Our Latest Analysis on NPWR
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.
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