Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells $221,650.00 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 155,000 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $1.43, for a total transaction of $221,650.00. Following the transaction, the insider directly owned 2,500,000 shares in the company, valued at $3,575,000. The trade was a 5.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 Wednesday, July 29th, 8 Rivers Capital, Llc sold 45,000 shares of NET Power stock. The shares were sold at an average price of $1.41, for a total value of $63,450.00.
• On Tuesday, July 28th, 8 Rivers Capital, Llc sold 55,858 shares of NET Power stock. The stock was sold at an average price of $1.47, for a total value of $82,111.26.
• On Wednesday, May 13th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The stock was sold at an average price of $2.43, for a total value of $85,050.00.
• 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 value of $976,000.00.

NET Power Stock Performance

Shares of NYSE NPWR traded up $0.12 during trading on Thursday, reaching $1.48. The stock had a trading volume of 731,040 shares, compared to its average volume of 800,047. The stock has a market cap of $331.02 million, a PE ratio of -0.25 and a beta of 1.06. NET Power Inc. has a one year low of $1.35 and a one year high of $5.20. The firm’s 50 day moving average price is $1.70 and its two-hundred day moving average price is $1.89.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NPWR shares. Wall Street Zen lowered shares of NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Weiss Ratings downgraded NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.50.

Institutional Trading of NET Power

Large investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. boosted its stake in NET Power by 16.4% during 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 purchasing an additional 400,000 shares during the period. CenterBook Partners LP increased its stake in shares of NET Power by 48.0% in the fourth quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock valued at $4,214,000 after purchasing an additional 599,725 shares during the period. Geode Capital Management LLC increased its stake in shares of 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 purchasing an additional 148,307 shares during the period. Two Sigma Investments LP raised its holdings in shares of NET Power by 36.7% during the third 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 last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of NET Power by 644.0% during the first quarter. Renaissance Technologies LLC now owns 703,800 shares of the company’s stock worth $1,098,000 after buying an additional 609,200 shares during the period. Institutional investors and hedge funds own 53.62% of the company’s stock.

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.