NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 89,000 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 89,000 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $3.31, for a total value of $294,590.00. Following the sale, the insider directly owned 3,284,100 shares of the company’s stock, valued at $10,870,371. This represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major 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 Tuesday, October 21st, 8 Rivers Capital, Llc sold 189,300 shares of NET Power stock. The shares were sold at an average price of $3.53, for a total value of $668,229.00.
• On Monday, October 20th, 8 Rivers Capital, Llc sold 201,000 shares of NET Power stock. The shares were sold at an average price of $3.58, for a total value of $719,580.00.
• On Thursday, October 16th, 8 Rivers Capital, Llc sold 13,959 shares of NET Power stock. The shares were sold at an average price of $4.71, for a total value of $65,746.89.
• On Wednesday, October 15th, 8 Rivers Capital, Llc sold 222,641 shares of NET Power stock. The shares were sold at an average price of $4.86, for a total value of $1,082,035.26.

NET Power Price Performance

NPWR stock opened at $3.36 on Thursday. The business has a fifty day moving average price of $2.91 and a 200 day moving average price of $2.54. NET Power Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $14.28. The stock has a market capitalization of $735.48 million, a price-to-earnings ratio of -1.42 and a beta of 0.75.

NET Power (NYSE:NPWR) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.24). On average, equities 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 and other institutional investors have recently made changes to their positions in NPWR. Adage Capital Partners GP L.L.C. boosted its position in shares of NET Power by 481.0% in the 1st 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 last quarter. CenterBook Partners LP boosted its position in shares of NET Power by 1,655.5% in the 1st quarter. CenterBook Partners LP now owns 1,744,770 shares of the company’s stock worth $4,589,000 after purchasing an additional 1,645,380 shares during the last quarter. Caption Management LLC boosted its position in shares of NET Power by 619.8% in the 2nd quarter. Caption Management LLC now owns 401,899 shares of the company’s stock worth $993,000 after purchasing an additional 346,068 shares during the last quarter. HITE Hedge Asset Management LLC boosted its position in shares of NET Power by 80.6% in the 1st quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company’s stock worth $1,955,000 after purchasing an additional 331,726 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of NET Power by 21.4% in the 2nd quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock worth $2,078,000 after purchasing an additional 148,307 shares during the last quarter. 53.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of NET Power in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, NET Power currently has a consensus rating of “Hold” and an average target price of $4.00.

About NET Power

NET Power Inc operates as a clean energy technology company. The company invents, develops, and licenses clean power generation technology. NET Power Inc was founded in 2010 and is headquartered in Durham, North Carolina.