NET Power (NYSE:NPWR) Major Shareholder Sells $33,908.00 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 8,477 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $4.00, for a total transaction of $33,908.00. Following the sale, the insider directly owned 1,838,653 shares of the company’s stock, valued at approximately $7,354,612. The trade was a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 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 Friday, October 31st, 8 Rivers Capital, Llc sold 18,116 shares of NET Power stock. The shares were sold at an average price of $4.05, for a total transaction of $73,369.80.
• On Tuesday, October 28th, 8 Rivers Capital, Llc sold 7,585 shares of NET Power stock. The shares were sold at an average price of $3.77, for a total value of $28,595.45.
• 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 transaction 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 stock was 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 stock was sold at an average price of $3.31, for a total value 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 value 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 value of $719,580.00.

NET Power Trading Down 7.8%

NPWR stock opened at $3.32 on Friday. The stock has a market cap of $727.81 million, a P/E ratio of -1.41 and a beta of 0.78. The stock’s fifty day simple moving average is $3.17 and its two-hundred day simple moving average is $2.66. NET Power Inc. has a 1-year low of $1.48 and a 1-year high of $14.28.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NPWR. Janney Montgomery Scott LLC purchased a new stake in NET Power in the 2nd quarter worth about $25,000. Invesco Ltd. bought a new position in NET Power during the second quarter worth about $25,000. Sei Investments Co. bought a new position in NET Power during the second quarter worth about $32,000. Deutsche Bank AG increased 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 worth $37,000 after purchasing an additional 5,429 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of NET Power by 48.7% in the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock valued at $40,000 after purchasing an additional 5,255 shares during the period. Institutional investors own 53.62% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of NET Power in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, NET Power presently has a consensus rating of “Reduce” and a consensus target price of $4.00.

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.