8 Rivers Capital, Llc Sells 55,858 Shares of NET Power (NYSE:NPWR) Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 55,858 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $1.47, for a total value of $82,111.26. Following the transaction, the insider directly owned 2,700,000 shares in the company, valued at $3,969,000. This trade represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, July 30th, 8 Rivers Capital, Llc sold 155,000 shares of NET Power stock. The stock was 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 Wednesday, May 13th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The shares were 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 Price Performance

Shares of NPWR stock opened at $1.44 on Friday. The business has a 50-day moving average of $1.68 and a 200 day moving average of $1.87. NET Power Inc. has a 1-year low of $1.35 and a 1-year high of $5.20. The stock has a market capitalization of $322.04 million, a PE ratio of -0.24 and a beta of 1.06.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. increased its holdings 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 lifted its holdings in NET Power by 48.0% in the 4th quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock worth $4,214,000 after buying an additional 599,725 shares during the period. Geode Capital Management LLC grew its position in shares of NET Power by 21.4% in the 2nd quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock worth $2,078,000 after buying an additional 148,307 shares during the last quarter. Two Sigma Investments LP grew its position in shares of NET Power by 36.7% in the 3rd quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock worth $2,474,000 after buying an additional 220,831 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake 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 valued at $1,098,000 after buying an additional 609,200 shares during the period. Hedge funds and other institutional investors own 53.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NPWR. Wall Street Zen downgraded shares of NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Weiss Ratings cut shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 27th. One research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.50.

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.