NET Power (NYSE:NPWR) Major Shareholder Sells $324,000.00 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $1.62, for a total transaction of $324,000.00. Following the transaction, the insider owned 1,750,000 shares of the company’s stock, valued at approximately $2,835,000. The trade was a 10.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, August 14th, 8 Rivers Capital, Llc sold 507,100 shares of NET Power stock. The shares were sold at an average price of $1.95, for a total transaction of $988,845.00.
• On Wednesday, August 12th, 8 Rivers Capital, Llc sold 50,000 shares of NET Power stock. The stock was sold at an average price of $1.63, for a total transaction of $81,500.00.
• On Tuesday, August 11th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The stock was sold at an average price of $1.60, for a total value of $56,000.00.
• On Monday, August 10th, 8 Rivers Capital, Llc sold 55,400 shares of NET Power stock. The shares were sold at an average price of $1.55, for a total value of $85,870.00.
• On Friday, August 7th, 8 Rivers Capital, Llc sold 60,345 shares of NET Power stock. The shares were sold at an average price of $1.53, for a total value of $92,327.85.
• On Thursday, August 6th, 8 Rivers Capital, Llc sold 89,255 shares of NET Power stock. The stock was sold at an average price of $1.51, for a total value of $134,775.05.
• 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 stock was sold at an average price of $1.41, for a total value of $63,450.00.

NET Power Stock Performance

NPWR stock traded up $0.33 during trading on Friday, hitting $1.95. The stock had a trading volume of 4,030,101 shares, compared to its average volume of 800,524. The stock has a market cap of $436.50 million, a price-to-earnings ratio of -0.33 and a beta of 1.07. The company’s 50 day moving average price is $1.60 and its two-hundred day moving average price is $1.80. NET Power Inc. has a 1-year low of $1.35 and a 1-year high of $5.20.

NET Power (NYSE:NPWR) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.84).

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NPWR shares. Wall Street Zen lowered NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Weiss Ratings raised 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, NET Power currently has an average rating of “Hold” and a consensus price target of $3.50.

Institutional Investors Weigh In On NET Power

Institutional investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. boosted its holdings in shares of 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 purchasing an additional 400,000 shares during the last quarter. CenterBook Partners LP boosted its holdings in 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 acquiring an additional 599,725 shares during the last quarter. Geode Capital Management LLC grew its position in NET Power by 21.4% during the second quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock valued at $2,078,000 after acquiring an additional 148,307 shares during the period. Two Sigma Investments LP grew its position in 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 acquiring an additional 220,831 shares during the period. Finally, Renaissance Technologies LLC increased its stake in 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 acquiring an additional 609,200 shares during the last quarter. 53.62% of the stock is currently 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.