8 Rivers Capital, Llc Sells 284,100 Shares of NET Power (NYSE:NPWR) Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 284,100 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $3.69, for a total transaction of $1,048,329.00. Following the transaction, the insider owned 3,000,000 shares in the company, valued at approximately $11,070,000. This trade represents a 8.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 Monday, October 27th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The stock was sold at an average price of $3.77, for a total transaction of $754,000.00.
• On Friday, October 24th, 8 Rivers Capital, Llc sold 32,583 shares of NET Power stock. The stock was sold at an average price of $3.70, for a total transaction of $120,557.10.
• On Wednesday, October 22nd, 8 Rivers Capital, Llc sold 89,000 shares of NET Power stock. The stock was sold at an average price of $3.31, for a total transaction of $294,590.00.
• On Tuesday, October 21st, 8 Rivers Capital, Llc sold 189,300 shares of NET Power stock. The stock was sold at an average price of $3.53, for a total transaction of $668,229.00.
• On Monday, October 20th, 8 Rivers Capital, Llc sold 201,000 shares of NET Power stock. The stock was sold at an average price of $3.58, for a total transaction 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 transaction 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 transaction of $1,082,035.26.

NET Power Stock Down 6.6%

NPWR opened at $3.45 on Wednesday. The stock has a market cap of $755.21 million, a price-to-earnings ratio of -1.46 and a beta of 0.75. NET Power Inc. has a twelve month low of $1.48 and a twelve month high of $14.28. The company’s 50-day moving average price is $3.00 and its two-hundred day moving average price is $2.58.

NET Power (NYSE:NPWR) last released its 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). As a group, sell-side analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of NET Power

Hedge funds and other institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC bought a new stake in shares of NET Power in the second quarter valued at approximately $25,000. Invesco Ltd. bought a new stake in NET Power during the 2nd quarter worth approximately $25,000. Sei Investments Co. bought a new stake in NET Power during the 2nd quarter worth approximately $32,000. Deutsche Bank AG increased its holdings in NET Power by 63.0% during the 1st quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock worth $37,000 after acquiring an additional 5,429 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in NET Power by 48.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock worth $40,000 after acquiring an additional 5,255 shares during the period. Institutional investors own 53.62% of the company’s stock.

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.