8 Rivers Capital, Llc Sells 35,000 Shares of NET Power (NYSE:NPWR) Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 35,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $2.43, for a total transaction of $85,050.00. Following the completion of the transaction, the insider directly owned 2,965,000 shares of the company’s stock, valued at approximately $7,204,950. The trade was a 1.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 shares were sold at an average price of $2.44, for a total transaction of $976,000.00.
• On Tuesday, March 3rd, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.04, for a total transaction of $204,000.00.
• On Monday, March 2nd, 8 Rivers Capital, Llc sold 79,858 shares of NET Power stock. The shares were 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $214,000.00.

NET Power Price Performance

NET Power stock opened at $2.14 on Friday. NET Power Inc. has a 1-year low of $1.46 and a 1-year high of $5.20. The firm has a market capitalization of $479.14 million, a P/E ratio of -0.36 and a beta of 1.03. The company’s 50-day moving average is $1.78 and its 200 day moving average is $2.31.

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

Analyst Ratings Changes

NPWR has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday. Weiss Ratings raised shares of NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.50.

Hedge Funds Weigh In On NET Power

A number of institutional investors have recently modified their holdings of the stock. Stonegate Investment Group LLC increased its position in shares of NET Power by 20.0% during the third quarter. Stonegate Investment Group LLC now owns 30,000 shares of the company’s stock worth $90,000 after acquiring an additional 5,000 shares during the period. JPMorgan Chase & Co. increased its position in shares of NET Power by 48.7% during 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of NET Power by 44.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company’s stock worth $46,000 after acquiring an additional 5,739 shares during the period. Barclays PLC increased its position in shares of NET Power by 14.6% during the fourth quarter. Barclays PLC now owns 54,750 shares of the company’s stock worth $125,000 after acquiring an additional 6,970 shares during the period. Finally, Engineers Gate Manager LP increased its position in shares of NET Power by 17.8% during the second quarter. Engineers Gate Manager LP now owns 46,433 shares of the company’s stock worth $115,000 after acquiring an additional 7,002 shares during the period. 53.62% of the stock is owned by hedge funds and other institutional investors.

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.