NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 55,858 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 55,858 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $1.47, for a total transaction of $82,111.26. Following the completion of the sale, the insider owned 2,700,000 shares in the company, valued at $3,969,000. This represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, July 30th, 8 Rivers Capital, Llc sold 155,000 shares of NET Power stock. The shares were sold at an average price of $1.43, for a total transaction of $221,650.00.
• On Wednesday, July 29th, 8 Rivers Capital, Llc sold 45,000 shares of NET Power stock. The shares were sold at an average price of $1.41, for a total transaction of $63,450.00.
• 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 transaction of $85,050.00.
• On Tuesday, May 12th, 8 Rivers Capital, Llc sold 400,000 shares of NET Power stock. The stock was sold at an average price of $2.44, for a total transaction of $976,000.00.

NET Power Price Performance

Shares of NYSE NPWR traded up $0.12 during midday trading on Thursday, reaching $1.48. 731,040 shares of the stock were exchanged, compared to its average volume of 800,047. NET Power Inc. has a 12 month low of $1.35 and a 12 month high of $5.20. The company has a market capitalization of $331.02 million, a price-to-earnings ratio of -0.25 and a beta of 1.06. The business has a 50-day simple moving average of $1.70 and a two-hundred day simple moving average of $1.89.

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

Institutional Investors Weigh In On NET Power

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted 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 worth $40,000 after purchasing an additional 5,255 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of NET Power by 44.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company’s stock worth $46,000 after buying an additional 5,739 shares during the period. Barclays PLC grew its holdings in shares of NET Power by 14.6% during the fourth quarter. Barclays PLC now owns 54,750 shares of the company’s stock worth $125,000 after buying an additional 6,970 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of NET Power by 17.8% during the second quarter. Engineers Gate Manager LP now owns 46,433 shares of the company’s stock worth $115,000 after buying an additional 7,002 shares in the last quarter. Finally, Sig Brokerage LP raised its position in NET Power by 50.3% in the 3rd quarter. Sig Brokerage LP now owns 24,298 shares of the company’s stock valued at $73,000 after buying an additional 8,130 shares during the last quarter. 53.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NPWR shares. Weiss Ratings lowered NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 27th. Wall Street Zen lowered NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 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 MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.50.

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.