Shares of NET Power Inc. (NYSE:NPWR – Get Free Report) were down 3.9% during trading on Monday following insider selling activity. The company traded as low as $14.75 and last traded at $14.97. Approximately 155,115 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 279,918 shares. The stock had previously closed at $15.58.
Specifically, General Counsel James Mahon sold 8,606 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $15.25, for a total value of $131,241.50. Following the completion of the transaction, the general counsel now directly owns 91,394 shares in the company, valued at $1,393,758.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel James Mahon sold 8,606 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $15.25, for a total transaction of $131,241.50. Following the completion of the transaction, the general counsel now directly owns 91,394 shares in the company, valued at $1,393,758.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Brandon Heffinger sold 27,771 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $15.19, for a total value of $421,841.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 202,321 shares of company stock worth $2,950,481. Company insiders own 20.00% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently commented on NPWR shares. Citigroup started coverage on NET Power in a research report on Wednesday, July 5th. They set a “neutral” rating and a $15.00 price target for the company. Capital One Financial began coverage on NET Power in a report on Thursday, June 29th. They issued an “overweight” rating for the company. Finally, Janney Montgomery Scott began coverage on NET Power in a report on Friday, July 14th. They issued a “buy” rating and a $36.00 target price for the company.
NET Power Stock Down 4.5 %
The stock’s fifty day simple moving average is $13.65.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN purchased a new position in NET Power in the second quarter valued at $331,000. Goldman Sachs Group Inc. acquired a new stake in NET Power in the second quarter valued at $426,000. Royal Bank of Canada acquired a new stake in NET Power in the second quarter valued at $32,000. G.F.W. Energy XII L.P. acquired a new stake in NET Power in the second quarter valued at $13,000,000. Finally, Shay Capital LLC acquired a new stake in NET Power in the second quarter valued at $351,000.
About NET Power
NET Power Inc operates as a clean energy technology company. It invents, develops, and licenses clean power generation technology. The company was founded in 2010 and is headquartered in Durham, North Carolina.
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