NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 135,000 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 135,000 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $2.74, for a total value of $369,900.00. Following the transaction, the insider owned 1,915,000 shares in the company, valued at approximately $5,247,100. This represents a 6.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major 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, January 16th, 8 Rivers Capital, Llc sold 230,000 shares of NET Power stock. The shares were sold at an average price of $2.63, for a total value of $604,900.00.
• On Wednesday, December 24th, 8 Rivers Capital, Llc sold 170,000 shares of NET Power stock. The shares were sold at an average price of $2.21, for a total value of $375,700.00.
• On Tuesday, December 23rd, 8 Rivers Capital, Llc sold 130,000 shares of NET Power stock. The stock was sold at an average price of $2.17, for a total value of $282,100.00.
• On Monday, December 22nd, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.26, for a total value of $226,000.00.
• On Friday, December 19th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.34, for a total transaction of $234,000.00.
• On Tuesday, December 9th, 8 Rivers Capital, Llc sold 40,000 shares of NET Power stock. The shares were sold at an average price of $2.82, for a total transaction of $112,800.00.
• On Monday, December 8th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The stock was sold at an average price of $2.81, for a total transaction of $393,400.00.
• On Friday, December 5th, 8 Rivers Capital, Llc sold 105,000 shares of NET Power stock. The shares were sold at an average price of $2.91, for a total transaction of $305,550.00.
• On Thursday, December 4th, 8 Rivers Capital, Llc sold 65,000 shares of NET Power stock. The shares were sold at an average price of $2.94, for a total transaction of $191,100.00.
• On Friday, November 28th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The shares were sold at an average price of $2.94, for a total transaction of $588,000.00.

NET Power Price Performance

NET Power stock opened at $2.62 on Friday. NET Power Inc. has a 12-month low of $1.48 and a 12-month high of $10.20. The company has a market capitalization of $582.01 million, a price-to-earnings ratio of -0.34 and a beta of 0.81. The firm’s fifty day moving average price is $2.64 and its 200 day moving average price is $2.87.

NET Power (NYSE:NPWR) last announced its earnings results on Thursday, November 13th. The company reported $5.84 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $6.00. Analysts forecast that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NPWR has been the topic of several analyst reports. Barclays upgraded NET Power from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $2.00 to $3.00 in a report on Friday, November 14th. Citigroup decreased their price target on shares of NET Power from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NET Power in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.50.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Stonegate Investment Group LLC grew its position in shares of NET Power by 20.0% in the 3rd 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 in the last quarter. JPMorgan Chase & Co. lifted its stake in 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 purchasing an additional 5,255 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in NET Power by 44.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company’s stock worth $46,000 after purchasing an additional 5,739 shares during the period. Engineers Gate Manager LP boosted its holdings in NET Power by 17.8% in the second 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 increased its stake in NET Power by 50.3% during the third quarter. Sig Brokerage LP now owns 24,298 shares of the company’s stock valued at $73,000 after purchasing an additional 8,130 shares during the last quarter. Institutional investors 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.