NET Power (NYSE:NPWR) Major Shareholder Sells 50,000 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 50,000 shares of NET Power stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $1.63, for a total value of $81,500.00. Following the completion of the transaction, the insider directly owned 1,950,000 shares of the company’s stock, valued at approximately $3,178,500. This represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% 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 Friday, August 14th, 8 Rivers Capital, Llc sold 507,100 shares of NET Power stock. The stock was sold at an average price of $1.95, for a total transaction of $988,845.00.
• On Thursday, August 13th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The stock was sold at an average price of $1.62, for a total transaction of $324,000.00.
• 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 transaction of $56,000.00.
• On Monday, August 10th, 8 Rivers Capital, Llc sold 55,400 shares of NET Power stock. The shares were sold at an average price of $1.55, for a total transaction of $85,870.00.
• On Friday, August 7th, 8 Rivers Capital, Llc sold 60,345 shares of NET Power stock. The shares were sold at an average price of $1.53, for a total transaction of $92,327.85.
• 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 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 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.

NET Power Stock Performance

Shares of NET Power stock traded up $0.33 during trading hours on Friday, reaching $1.95. 4,030,101 shares of the company were exchanged, compared to its average volume of 800,524. NET Power Inc. has a 1 year low of $1.35 and a 1 year high of $5.20. The stock’s fifty day moving average is $1.60 and its 200 day moving average is $1.80. The firm has a market cap of $436.50 million, a PE ratio of -0.33 and a beta of 1.07.

NET Power (NYSE:NPWR) last released its earnings results on Thursday, August 13th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.84).

Hedge Funds Weigh In On NET Power

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in NET Power by 21.4% in the second quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock valued at $2,078,000 after buying an additional 148,307 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of NET Power by 48.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock worth $40,000 after acquiring an additional 5,255 shares in the last quarter. Invesco Ltd. purchased a new position in shares of NET Power in the 2nd quarter valued at about $25,000. Federated Hermes Inc. purchased a new position in shares of NET Power in the 2nd quarter valued at about $151,000. Finally, Sei Investments Co. acquired a new stake in shares of NET Power during the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

Wall Street Analysts Forecast Growth

NPWR has been the subject of a number of analyst reports. Weiss Ratings raised NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Wall Street Zen cut shares of NET Power from a “sell” rating to a “strong sell” rating in a 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, NET Power has a consensus rating of “Hold” and an average price target of $3.50.

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.