NET Power (NYSE:NPWR) Major Shareholder Sells $28,595.45 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 7,585 shares of the company’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $3.77, for a total value of $28,595.45. Following the transaction, the insider directly owned 2,759,832 shares of the company’s stock, valued at $10,404,566.64. This represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more 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 Thursday, October 30th, 8 Rivers Capital, Llc sold 107,754 shares of NET Power stock. The shares were sold at an average price of $4.04, for a total value of $435,326.16.
• On Wednesday, October 29th, 8 Rivers Capital, Llc sold 786,832 shares of NET Power stock. The stock was sold at an average price of $4.12, for a total value of $3,241,747.84.
• On Monday, October 27th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The stock was sold at an average price of $3.77, for a total transaction of $754,000.00.
• On Friday, October 24th, 8 Rivers Capital, Llc sold 32,583 shares of NET Power stock. The shares were sold at an average price of $3.70, for a total transaction of $120,557.10.
• On Thursday, October 23rd, 8 Rivers Capital, Llc sold 284,100 shares of NET Power stock. The stock was sold at an average price of $3.69, for a total transaction of $1,048,329.00.
• On Wednesday, October 22nd, 8 Rivers Capital, Llc sold 89,000 shares of NET Power stock. The shares were sold at an average price of $3.31, for a total transaction of $294,590.00.
• On Tuesday, October 21st, 8 Rivers Capital, Llc sold 189,300 shares of NET Power stock. The shares were sold at an average price of $3.53, for a total transaction of $668,229.00.
• On Monday, October 20th, 8 Rivers Capital, Llc sold 201,000 shares of NET Power stock. The stock was sold at an average price of $3.58, for a total transaction of $719,580.00.
• On Thursday, October 16th, 8 Rivers Capital, Llc sold 13,959 shares of NET Power stock. The stock was sold at an average price of $4.71, for a total transaction of $65,746.89.
• 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 Performance

NYSE:NPWR opened at $3.82 on Friday. NET Power Inc. has a 52-week low of $1.48 and a 52-week high of $14.28. The company has a market cap of $836.32 million, a P/E ratio of -1.62 and a beta of 0.75. The stock’s 50-day simple moving average is $3.09 and its 200 day simple moving average is $2.62.

NET Power (NYSE:NPWR) last posted its quarterly earnings results 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 predict that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On NET Power

A number of large investors have recently added to or reduced their stakes in NPWR. Janney Montgomery Scott LLC bought a new position in NET Power during the second quarter worth $25,000. Invesco Ltd. acquired a new stake in shares of NET Power during the 2nd quarter worth about $25,000. Sei Investments Co. acquired a new stake in shares of NET Power during the 2nd quarter worth about $32,000. Deutsche Bank AG boosted its holdings in shares of NET Power by 63.0% during the 1st quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock worth $37,000 after buying an additional 5,429 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in NET Power by 48.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock valued at $40,000 after buying an additional 5,255 shares during the last quarter. Institutional investors own 53.62% of the company’s stock.

About NET Power

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.