NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 8,477 Shares

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 8,477 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $4.00, for a total value of $33,908.00. Following the completion of the sale, the insider directly owned 1,838,653 shares in the company, valued at approximately $7,354,612. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 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 Friday, October 31st, 8 Rivers Capital, Llc sold 18,116 shares of NET Power stock. The stock was sold at an average price of $4.05, for a total value of $73,369.80.
• On Tuesday, October 28th, 8 Rivers Capital, Llc sold 7,585 shares of NET Power stock. The shares were sold at an average price of $3.77, for a total value of $28,595.45.
• On Thursday, October 30th, 8 Rivers Capital, Llc sold 107,754 shares of NET Power stock. The shares were sold at an average price of $4.04, for a total value of $435,326.16.
• On Wednesday, October 29th, 8 Rivers Capital, Llc sold 786,832 shares of NET Power stock. The shares were sold at an average price of $4.12, for a total transaction of $3,241,747.84.
• On Monday, October 27th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The shares were sold at an average price of $3.77, for a total transaction of $754,000.00.
• On Friday, October 24th, 8 Rivers Capital, Llc sold 32,583 shares of NET Power stock. The stock was sold at an average price of $3.70, for a total transaction of $120,557.10.
• On Thursday, October 23rd, 8 Rivers Capital, Llc sold 284,100 shares of NET Power stock. The stock was sold at an average price of $3.69, for a total transaction of $1,048,329.00.
• On Wednesday, October 22nd, 8 Rivers Capital, Llc sold 89,000 shares of NET Power stock. The stock was sold at an average price of $3.31, for a total transaction of $294,590.00.
• On Tuesday, October 21st, 8 Rivers Capital, Llc sold 189,300 shares of NET Power stock. The stock was sold at an average price of $3.53, for a total value of $668,229.00.
• On Monday, October 20th, 8 Rivers Capital, Llc sold 201,000 shares of NET Power stock. The stock was sold at an average price of $3.58, for a total value of $719,580.00.

NET Power Stock Performance

Shares of NPWR stock traded down $0.35 on Tuesday, reaching $3.57. The stock had a trading volume of 1,761,693 shares, compared to its average volume of 2,728,695. The stock has a market cap of $781.52 million, a P/E ratio of -1.51 and a beta of 0.78. NET Power Inc. has a 1 year low of $1.48 and a 1 year high of $14.28. The company has a 50 day simple moving average of $3.14 and a 200 day simple moving average of $2.65.

NET Power (NYSE:NPWR) last announced its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.24). On average, equities research analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NPWR. Janney Montgomery Scott LLC purchased a new position in shares of NET Power during the 2nd quarter valued at about $25,000. Invesco Ltd. purchased a new position in NET Power during the second quarter valued at approximately $25,000. Sei Investments Co. purchased a new position in NET Power during the second quarter valued at approximately $32,000. Deutsche Bank AG lifted its holdings in NET Power by 63.0% during the first quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock valued at $37,000 after purchasing an additional 5,429 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted 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 in the last quarter. 53.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of NET Power in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $4.00.

About NET Power

NET Power Inc operates as a clean energy technology company. The company invents, develops, and licenses clean power generation technology. NET Power Inc was founded in 2010 and is headquartered in Durham, North Carolina.