NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 230,000 Shares

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 230,000 shares of the stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $2.63, for a total transaction of $604,900.00. Following the sale, the insider directly owned 1,550,000 shares in the company, valued at approximately $4,076,500. This represents a 12.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, January 14th, 8 Rivers Capital, Llc sold 135,000 shares of NET Power stock. The stock was 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 shares were sold at an average price of $2.17, for a total transaction of $282,100.00.
• On Monday, December 22nd, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.26, for a total transaction of $226,000.00.
• On Friday, December 19th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.34, for a total value of $234,000.00.
• On Tuesday, December 9th, 8 Rivers Capital, Llc sold 40,000 shares of NET Power stock. The shares were sold at an average price of $2.82, for a total value of $112,800.00.
• On Monday, December 8th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The stock was sold at an average price of $2.81, for a total value of $393,400.00.
• On Friday, December 5th, 8 Rivers Capital, Llc sold 105,000 shares of NET Power stock. The shares were sold at an average price of $2.91, for a total value of $305,550.00.
• On Thursday, December 4th, 8 Rivers Capital, Llc sold 65,000 shares of NET Power stock. The shares were sold at an average price of $2.94, for a total value of $191,100.00.
• On Friday, November 28th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The stock was sold at an average price of $2.94, for a total value of $588,000.00.

NET Power Trading Up 4.4%

Shares of NYSE:NPWR opened at $2.62 on Friday. NET Power Inc. has a 1-year low of $1.48 and a 1-year high of $10.20. The stock has a market capitalization of $582.01 million, a P/E ratio of -0.34 and a beta of 0.81. The business has a 50-day moving average price of $2.64 and a two-hundred day moving average price of $2.87.

NET Power (NYSE:NPWR) last issued its quarterly earnings results on Thursday, November 13th. The company reported $5.84 EPS for the quarter, topping the consensus estimate of ($0.16) by $6.00. As a group, equities analysts predict that NET Power Inc. will post -0.4 EPS for the current year.

Institutional Investors Weigh In On NET Power

A number of hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC bought a new position in shares of NET Power during the 2nd quarter valued at about $25,000. Invesco Ltd. acquired a new stake in NET Power during the 2nd quarter worth approximately $25,000. Sei Investments Co. bought a new position in NET Power in the second quarter valued at approximately $32,000. Quantbot Technologies LP acquired a new position in shares of NET Power in the third quarter valued at approximately $39,000. Finally, JPMorgan Chase & Co. increased its position in shares of NET Power by 48.7% during the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock worth $40,000 after acquiring an additional 5,255 shares in the last quarter. Institutional investors and hedge funds own 53.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NPWR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of NET Power in a research note on Wednesday, October 8th. Barclays raised NET Power from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $2.00 to $3.00 in a research note on Friday, November 14th. Finally, Citigroup reduced their target price on NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, NET Power presently has an average rating of “Hold” and a consensus 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.