NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 170,000 Shares

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 170,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $2.21, for a total value of $375,700.00. Following the completion of the transaction, the insider directly owned 2,050,000 shares in the company, valued at approximately $4,530,500. This represents a 7.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 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 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 Monday, December 22nd, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.26, for a total transaction of $226,000.00.
• 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 shares were 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 stock was sold at an average price of $2.94, for a total value 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 shares were 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 stock was sold at an average price of $2.60, for a total value of $345,376.20.

NET Power Price Performance

Shares of NPWR opened at $2.24 on Tuesday. The stock has a market capitalization of $496.93 million, a price-to-earnings ratio of -0.29 and a beta of 0.80. NET Power Inc. has a 1 year low of $1.48 and a 1 year high of $11.83. The business’s 50 day simple moving average is $2.93 and its 200-day simple moving average is $2.85.

NET Power (NYSE:NPWR) last posted its earnings results on Thursday, November 13th. The company reported $5.84 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $6.00. On average, sell-side analysts expect that NET Power Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of NET Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in shares of NET Power during the second quarter valued at approximately $25,000. Invesco Ltd. bought a new stake in shares of NET Power during the 2nd quarter worth approximately $25,000. Sei Investments Co. bought a new stake in shares of NET Power during the 2nd quarter worth approximately $32,000. Quantbot Technologies LP purchased a new position in NET Power during the 3rd quarter valued at $39,000. Finally, Deutsche Bank AG grew its position in NET Power by 63.0% in the 1st quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock valued at $37,000 after acquiring an additional 5,429 shares during the last quarter. 53.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NPWR. Citigroup lowered their price target on shares of NET Power from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NET Power in a research note on Wednesday, October 8th. Finally, Barclays upgraded NET Power from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $2.00 to $3.00 in a report on Friday, November 14th. One research 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.