NET Power (NYSE:NPWR) Major Shareholder Sells $85,050.00 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $2.43, for a total value of $85,050.00. Following the transaction, the insider owned 2,965,000 shares in the company, valued at approximately $7,204,950. This represents a 1.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

8 Rivers Capital, Llc also recently made the following trade(s):

• 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 value of $976,000.00.
• On Tuesday, March 3rd, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.04, for a total value of $204,000.00.
• On Monday, March 2nd, 8 Rivers Capital, Llc sold 79,858 shares of NET Power stock. The stock was sold at an average price of $2.05, for a total value of $163,708.90.
• On Friday, February 27th, 8 Rivers Capital, Llc sold 4,744 shares of NET Power stock. The stock was sold at an average price of $2.00, for a total value of $9,488.00.
• On Thursday, February 26th, 8 Rivers Capital, Llc sold 1,881 shares of NET Power stock. The stock was sold at an average price of $2.00, for a total value of $3,762.00.
• On Friday, February 20th, 8 Rivers Capital, Llc sold 63,517 shares of NET Power stock. The stock was sold at an average price of $2.03, for a total value of $128,939.51.
• On Thursday, February 19th, 8 Rivers Capital, Llc sold 125,000 shares of NET Power stock. The stock was sold at an average price of $2.14, for a total value of $267,500.00.
• On Wednesday, February 18th, 8 Rivers Capital, Llc sold 75,000 shares of NET Power stock. The stock was sold at an average price of $2.07, for a total value of $155,250.00.
• On Friday, February 13th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.14, for a total value of $214,000.00.

NET Power Trading Down 3.8%

Shares of NYSE:NPWR opened at $2.14 on Friday. The business has a 50-day moving average price of $1.78 and a 200 day moving average price of $2.31. The company has a market capitalization of $479.14 million, a price-to-earnings ratio of -0.36 and a beta of 1.03. NET Power Inc. has a 12-month low of $1.46 and a 12-month high of $5.20.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NPWR shares. Wall Street Zen downgraded NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday. Weiss Ratings raised NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $3.50.

Hedge Funds Weigh In On NET Power

Several institutional investors have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. grew its position in NET Power by 16.4% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock valued at $7,015,000 after acquiring an additional 400,000 shares in the last quarter. CenterBook Partners LP grew its position in NET Power by 48.0% in the 4th 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of NET Power by 21.4% in the 2nd 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 period. Two Sigma Investments LP boosted its stake in shares of NET Power by 36.7% in the 3rd 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 during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of NET Power by 644.0% in the 1st 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 during the period. 53.62% of the stock is owned by institutional investors and hedge funds.

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.