Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells $226,000.00 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $2.26, for a total value of $226,000.00. Following the sale, the insider directly owned 2,350,000 shares of the company’s stock, valued at $5,311,000. The trade was a 4.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 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 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 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 transaction 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 transaction 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 transaction of $393,400.00.
• On Friday, December 5th, 8 Rivers Capital, Llc sold 105,000 shares of NET Power stock. The stock was sold at an average price of $2.91, for a total transaction 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 transaction 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.
• On Friday, November 21st, 8 Rivers Capital, Llc sold 17,163 shares of NET Power stock. The stock was sold at an average price of $2.50, for a total value of $42,907.50.
• On Thursday, November 20th, 8 Rivers Capital, Llc sold 132,837 shares of NET Power stock. The shares were sold at an average price of $2.60, for a total value of $345,376.20.
• On Wednesday, November 19th, 8 Rivers Capital, Llc sold 250,000 shares of NET Power stock. The shares were sold at an average price of $2.57, for a total value of $642,500.00.

NET Power Stock Up 2.3%

Shares of NYSE NPWR opened at $2.22 on Friday. NET Power Inc. has a 12 month low of $1.48 and a 12 month high of $11.83. The company has a market cap of $493.15 million, a P/E ratio of -0.29 and a beta of 0.80. The business’s 50 day moving average is $2.98 and its two-hundred day moving average is $2.85.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NPWR. Adage Capital Partners GP L.L.C. lifted its stake in NET Power by 481.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 2,440,000 shares of the company’s stock worth $6,417,000 after purchasing an additional 2,020,000 shares during the period. Deutsche Bank AG raised its holdings in shares of NET Power by 63.0% in the 1st quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock worth $37,000 after buying an additional 5,429 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of NET Power in the 1st quarter worth approximately $221,000. Caption Management LLC bought a new position in shares of NET Power during the 1st quarter worth approximately $147,000. Finally, EntryPoint Capital LLC acquired a new stake in NET Power in the 1st quarter valued at $126,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on NPWR shares. Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a report on Wednesday, October 8th. Citigroup lowered their price target on NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Finally, Barclays upgraded NET Power from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $2.00 to $3.00 in a research report on Friday, November 14th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, NET Power presently has a consensus rating of “Hold” and a consensus price target 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.