NET Power (NYSE:NPWR) Major Shareholder Sells $221,650.00 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 155,000 shares of NET Power stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $1.43, for a total transaction of $221,650.00. Following the transaction, the insider directly owned 2,500,000 shares in the company, valued at approximately $3,575,000. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large 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, July 29th, 8 Rivers Capital, Llc sold 45,000 shares of NET Power stock. The stock was sold at an average price of $1.41, for a total transaction of $63,450.00.
• On Tuesday, July 28th, 8 Rivers Capital, Llc sold 55,858 shares of NET Power stock. The stock was sold at an average price of $1.47, for a total value of $82,111.26.
• On Wednesday, May 13th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The shares were sold at an average price of $2.43, for a total value of $85,050.00.
• On Tuesday, May 12th, 8 Rivers Capital, Llc sold 400,000 shares of NET Power stock. The shares were sold at an average price of $2.44, for a total value of $976,000.00.

NET Power Trading Down 2.4%

NPWR opened at $1.44 on Friday. The firm has a market cap of $322.04 million, a price-to-earnings ratio of -0.24 and a beta of 1.06. NET Power Inc. has a 12 month low of $1.35 and a 12 month high of $5.20. The stock has a fifty day moving average price of $1.68 and a 200-day moving average price of $1.87.

NET Power (NYSE:NPWR) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05).

Analysts Set New Price Targets

Several analysts have commented on NPWR shares. Weiss Ratings lowered shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 27th. Wall Street Zen downgraded shares of NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.50.

Institutional Trading of NET Power

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE grew its stake in NET Power by 40.1% during the 1st quarter. Bank of America Corp DE now owns 35,083 shares of the company’s stock worth $55,000 after buying an additional 10,034 shares during the last quarter. Renaissance Technologies LLC increased its position in NET Power by 644.0% during the 1st quarter. Renaissance Technologies LLC now owns 703,800 shares of the company’s stock valued at $1,098,000 after buying an additional 609,200 shares in the last quarter. Summit Securities Group LLC purchased a new stake in NET Power in the first quarter valued at about $30,000. Janney Montgomery Scott LLC raised its stake in NET Power by 10.2% in the first quarter. Janney Montgomery Scott LLC now owns 133,000 shares of the company’s stock valued at $207,000 after buying an additional 12,351 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in NET Power by 99.3% in the fourth quarter. Empowered Funds LLC now owns 444,734 shares of the company’s stock valued at $1,014,000 after buying an additional 221,530 shares during the last quarter. Hedge funds and other institutional investors own 53.62% of the company’s stock.

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.