Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells $83,200.00 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 40,000 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $2.08, for a total transaction of $83,200.00. Following the transaction, the insider owned 1,160,000 shares of the company’s stock, valued at approximately $2,412,800. The trade was a 3.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, February 12th, 8 Rivers Capital, Llc sold 150,000 shares of NET Power stock. The shares were sold at an average price of $2.03, for a total transaction of $304,500.00.
• On Wednesday, February 11th, 8 Rivers Capital, Llc sold 60,000 shares of NET Power stock. The stock was sold at an average price of $2.02, for a total transaction of $121,200.00.
• On Thursday, January 29th, 8 Rivers Capital, Llc sold 54,780 shares of NET Power stock. The shares were sold at an average price of $2.35, for a total transaction of $128,733.00.
• On Wednesday, January 28th, 8 Rivers Capital, Llc sold 65,220 shares of NET Power stock. The shares were sold at an average price of $2.38, for a total value of $155,223.60.
• On Tuesday, January 27th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.38, for a total value of $238,000.00.
• On Monday, January 26th, 8 Rivers Capital, Llc sold 130,000 shares of NET Power stock. The stock was sold at an average price of $2.35, for a total value of $305,500.00.
• On Friday, January 16th, 8 Rivers Capital, Llc sold 230,000 shares of NET Power stock. The shares were sold at an average price of $2.63, for a total value of $604,900.00.
• 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 value 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 value of $375,700.00.
• On Tuesday, December 23rd, 8 Rivers Capital, Llc sold 130,000 shares of NET Power stock. The stock was sold at an average price of $2.17, for a total transaction of $282,100.00.

NET Power Stock Up 3.6%

NYSE:NPWR opened at $2.14 on Friday. The firm’s fifty day simple moving average is $2.42 and its 200-day simple moving average is $2.78. The stock has a market cap of $474.27 million, a PE ratio of -0.28 and a beta of 0.82. NET Power Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $8.27.

NET Power (NYSE:NPWR) last released its quarterly earnings data on Thursday, November 13th. The company reported $5.84 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $6.00. Equities analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NPWR. Citigroup dropped their price objective on NET Power from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Barclays raised NET Power from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $2.00 to $3.00 in a report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NET Power in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.50.

Institutional Investors Weigh In On NET Power

A number of large investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. raised its holdings in shares of NET Power by 16.4% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock worth $7,015,000 after acquiring an additional 400,000 shares during the last quarter. CenterBook Partners LP raised its stake in NET Power by 48.0% in the 4th quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock valued at $4,214,000 after purchasing an additional 599,725 shares during the last quarter. Geode Capital Management LLC lifted its holdings in NET Power by 21.4% in the 2nd quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock valued at $2,078,000 after purchasing an additional 148,307 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of NET Power by 36.7% during the 3rd quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock worth $2,474,000 after purchasing an additional 220,831 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of NET Power by 1.5% during the 4th quarter. State Street Corp now owns 603,694 shares of the company’s stock worth $1,376,000 after purchasing an additional 9,001 shares during the last quarter. Institutional investors and hedge funds own 53.62% of the company’s stock.

NET Power Company Profile

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.