NET Power Inc. (NYSE:NPWR – Get Free Report) major shareholder 8 Rivers Capital, Llc sold 89,255 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $1.51, for a total value of $134,775.05. Following the sale, the insider owned 2,150,745 shares of the company’s stock, valued at approximately $3,247,624.95. This trade represents a 3.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% 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, 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 value 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 value 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 value of $221,650.00.
- 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 transaction 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 transaction 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 transaction of $976,000.00.
NET Power Price Performance
NPWR opened at $1.52 on Friday. NET Power Inc. has a 12-month low of $1.35 and a 12-month high of $5.20. The stock has a market capitalization of $342.24 million, a PE ratio of -0.26 and a beta of 1.07. The firm’s fifty day moving average price is $1.63 and its 200 day moving average price is $1.83.
Analyst Upgrades and Downgrades
Several analysts have issued reports on NPWR shares. Wall Street Zen cut NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Weiss Ratings lowered NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NET Power presently has a consensus rating of “Hold” and a consensus target price of $3.50.
Read Our Latest Report on NPWR
Institutional Trading of NET Power
A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 valued at $46,000 after purchasing an additional 5,739 shares during the last quarter. Barclays PLC raised its position in shares of NET Power by 14.6% during the 4th quarter. Barclays PLC now owns 54,750 shares of the company’s stock worth $125,000 after purchasing an additional 6,970 shares during the period. Engineers Gate Manager LP raised its position in shares of NET Power by 17.8% during the 2nd quarter. Engineers Gate Manager LP now owns 46,433 shares of the company’s stock worth $115,000 after purchasing an additional 7,002 shares during the period. Finally, Sig Brokerage LP raised its position in shares of NET Power by 50.3% during the 3rd quarter. Sig Brokerage LP now owns 24,298 shares of the company’s stock worth $73,000 after purchasing an additional 8,130 shares during the period. 53.62% of the stock is owned by institutional investors and hedge funds.
About NET Power
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.
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