NET Power (NYSE:NPWR) Major Shareholder Sells 100,000 Shares

NET Power Inc. (NYSE:NPWRGet Free Report) major shareholder 8 Rivers Capital, Llc sold 100,000 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $2.04, for a total value of $204,000.00. Following the completion of the sale, the insider owned 400,000 shares in the company, valued at approximately $816,000. The trade was a 20.00% decrease in their ownership of the stock. The sale 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 transactions with the SEC.

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

  • 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 transaction 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 transaction 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 shares were 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 shares were sold at an average price of $2.14, for a total transaction of $267,500.00.
  • On Wednesday, February 18th, 8 Rivers Capital, Llc sold 75,000 shares of NET Power stock. The shares were sold at an average price of $2.07, for a total transaction of $155,250.00.
  • On Friday, February 13th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.14, for a total value of $214,000.00.
  • On Thursday, February 12th, 8 Rivers Capital, Llc sold 150,000 shares of NET Power stock. The shares were sold at an average price of $2.03, for a total value of $304,500.00.
  • On Wednesday, February 11th, 8 Rivers Capital, Llc sold 60,000 shares of NET Power stock. The stock was sold at an average price of $2.02, for a total transaction of $121,200.00.
  • On Tuesday, February 10th, 8 Rivers Capital, Llc sold 40,000 shares of NET Power stock. The stock was sold at an average price of $2.08, for a total value of $83,200.00.

NET Power Price Performance

Shares of NPWR stock traded up $0.01 during midday trading on Thursday, hitting $2.03. The company had a trading volume of 1,034,553 shares, compared to its average volume of 835,183. The stock has a market cap of $450.95 million, a price-to-earnings ratio of -0.27 and a beta of 0.84. The company’s 50 day simple moving average is $2.30 and its 200 day simple moving average is $2.71. NET Power Inc. has a 52-week low of $1.48 and a 52-week high of $6.99.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NPWR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of NET Power in a report on Thursday, January 22nd. Barclays raised shares of NET Power from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $2.00 to $3.00 in a report on Friday, November 14th. Finally, Citigroup decreased their price target on NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, NET Power has an average rating of “Hold” and a consensus price target of $3.50.

View Our Latest Research Report on NPWR

Hedge Funds Weigh In On NET Power

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in NET Power by 21.4% in the 2nd quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock worth $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% in the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock worth $40,000 after acquiring an additional 5,255 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in NET Power in the second quarter valued at approximately $90,000. Invesco Ltd. acquired a new position in NET Power during the second quarter worth approximately $25,000. Finally, Federated Hermes Inc. acquired a new position in NET Power during the second quarter worth approximately $151,000. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

NET Power Company Profile

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for NET Power (NYSE:NPWR)

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