8 Rivers Capital, Llc Sells 150,000 Shares of NET Power (NYSE:NPWR) Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 150,000 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $2.03, for a total transaction of $304,500.00. Following the completion of the sale, the insider directly owned 950,000 shares in the company, valued at approximately $1,928,500. The trade was a 13.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major 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 Wednesday, February 11th, 8 Rivers Capital, Llc sold 60,000 shares of NET Power stock. The shares were sold at an average price of $2.02, for a total value of $121,200.00.
• On Tuesday, February 10th, 8 Rivers Capital, Llc sold 40,000 shares of NET Power stock. The shares were sold at an average price of $2.08, for a total value of $83,200.00.
• On Thursday, January 29th, 8 Rivers Capital, Llc sold 54,780 shares of NET Power stock. The stock was sold at an average price of $2.35, for a total value of $128,733.00.
• On Wednesday, January 28th, 8 Rivers Capital, Llc sold 65,220 shares of NET Power stock. The stock was sold at an average price of $2.38, for a total value of $155,223.60.
• On Tuesday, January 27th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.38, for a total value of $238,000.00.
• On Monday, January 26th, 8 Rivers Capital, Llc sold 130,000 shares of NET Power stock. The shares were sold at an average price of $2.35, for a total value of $305,500.00.
• On Friday, January 16th, 8 Rivers Capital, Llc sold 230,000 shares of NET Power stock. The stock was sold at an average price of $2.63, for a total transaction of $604,900.00.
• On Wednesday, January 14th, 8 Rivers Capital, Llc sold 135,000 shares of NET Power stock. The shares were sold at an average price of $2.74, for a total transaction of $369,900.00.
• 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 transaction 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 transaction of $282,100.00.

NET Power Stock Performance

NPWR opened at $2.14 on Friday. The company has a fifty day moving average of $2.42 and a two-hundred day moving average of $2.78. The stock has a market capitalization of $474.27 million, a price-to-earnings ratio of -0.28 and a beta of 0.82. NET Power Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $8.27.

NET Power (NYSE:NPWR) last posted its earnings results on Thursday, November 13th. The company reported $5.84 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $6.00. On average, equities research analysts forecast that NET Power Inc. will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays upgraded NET Power from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $2.00 to $3.00 in a research report on Friday, November 14th. Citigroup dropped their price target on shares of NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a research report on Thursday, January 22nd. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $3.50.

Institutional Investors Weigh In On NET Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in NPWR. Bank of America Corp DE raised its position in shares of NET Power by 555.0% in the third quarter. Bank of America Corp DE now owns 153,294 shares of the company’s stock valued at $461,000 after buying an additional 129,889 shares during the last quarter. Wells Fargo & Company MN grew its stake in NET Power by 57.3% during the 4th quarter. Wells Fargo & Company MN now owns 49,245 shares of the company’s stock valued at $112,000 after acquiring an additional 17,931 shares in the last quarter. Sig Brokerage LP grew its stake in NET Power by 50.3% during the 3rd quarter. Sig Brokerage LP now owns 24,298 shares of the company’s stock valued at $73,000 after acquiring an additional 8,130 shares in the last quarter. Legacy Advisors LLC acquired a new stake in NET Power in the 3rd quarter valued at about $49,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in NET Power by 44.9% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 53.62% of the company’s stock.

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.