Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells $65,746.89 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 13,959 shares of the company’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $4.71, for a total value of $65,746.89. Following the sale, the insider owned 3,763,400 shares of the company’s stock, valued at approximately $17,725,614. This trade represents a 0.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 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, October 15th, 8 Rivers Capital, Llc sold 222,641 shares of NET Power stock. The shares were sold at an average price of $4.86, for a total value of $1,082,035.26.

NET Power Stock Down 11.9%

Shares of NPWR stock opened at $3.59 on Friday. NET Power Inc. has a 12 month low of $1.48 and a 12 month high of $14.28. The company has a market cap of $785.90 million, a PE ratio of -1.52 and a beta of 0.75. The business’s 50 day moving average is $2.87 and its two-hundred day moving average is $2.52.

NET Power (NYSE:NPWR) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.24). As a group, equities analysts expect that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On NET Power

Large investors have recently added to or reduced their stakes in the company. Legacy Advisors LLC bought a new stake in shares of NET Power in the 1st quarter worth approximately $43,000. XTX Topco Ltd raised its stake in shares of NET Power by 129.3% in the first quarter. XTX Topco Ltd now owns 138,198 shares of the company’s stock valued at $363,000 after purchasing an additional 77,929 shares in the last quarter. Deutsche Bank AG raised its stake in shares of NET Power by 63.0% in the first quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock valued at $37,000 after purchasing an additional 5,429 shares in the last quarter. CenterBook Partners LP lifted its position in NET Power by 1,655.5% in the first quarter. CenterBook Partners LP now owns 1,744,770 shares of the company’s stock worth $4,589,000 after purchasing an additional 1,645,380 shares during the period. Finally, Nuveen LLC acquired a new stake in NET Power during the first quarter worth $136,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of NET Power in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.00.

NET Power Company Profile

NET Power Inc operates as a clean energy technology company. The company invents, develops, and licenses clean power generation technology. NET Power Inc was founded in 2010 and is headquartered in Durham, North Carolina.