Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells 338,653 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 338,653 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $2.81, for a total transaction of $951,614.93. Following the completion of the transaction, the insider owned 3,500,000 shares in the company, valued at approximately $9,835,000. This trade represents a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large 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 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 transaction of $642,500.00.
• On Monday, November 3rd, 8 Rivers Capital, Llc sold 8,477 shares of NET Power stock. The stock was sold at an average price of $4.00, for a total transaction of $33,908.00.
• On Friday, October 31st, 8 Rivers Capital, Llc sold 18,116 shares of NET Power stock. The shares were sold at an average price of $4.05, for a total transaction of $73,369.80.
• On Tuesday, October 28th, 8 Rivers Capital, Llc sold 7,585 shares of NET Power stock. The stock was sold at an average price of $3.77, for a total transaction of $28,595.45.
• On Thursday, October 30th, 8 Rivers Capital, Llc sold 107,754 shares of NET Power stock. The shares were sold at an average price of $4.04, for a total value of $435,326.16.
• On Wednesday, October 29th, 8 Rivers Capital, Llc sold 786,832 shares of NET Power stock. The stock was sold at an average price of $4.12, for a total value of $3,241,747.84.
• On Monday, October 27th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The shares were sold at an average price of $3.77, for a total value 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 value of $120,557.10.
• On Thursday, October 23rd, 8 Rivers Capital, Llc sold 284,100 shares of NET Power stock. The stock was sold at an average price of $3.69, for a total transaction of $1,048,329.00.
• 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.

NET Power Stock Down 5.4%

Shares of NET Power stock traded down $0.15 during trading on Wednesday, reaching $2.54. The company’s stock had a trading volume of 1,679,434 shares, compared to its average volume of 1,466,042. NET Power Inc. has a 52-week low of $1.48 and a 52-week high of $14.12. The firm’s 50-day moving average is $3.30 and its two-hundred day moving average is $2.74. The company has a market cap of $555.72 million, a price-to-earnings ratio of -0.33 and a beta of 0.78.

NET Power (NYSE:NPWR) last posted its quarterly earnings results on Thursday, November 13th. The company reported $5.84 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $6.00. On average, equities research analysts anticipate that NET Power Inc. will post -0.4 EPS for the current year.

Analyst Upgrades and Downgrades

NPWR has been the topic of a number of analyst reports. Citigroup decreased 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. Barclays raised shares of 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 research note on Friday, November 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NET Power in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.50.

Institutional Trading of NET Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC bought a new stake in NET Power in the second quarter valued at $25,000. Invesco Ltd. bought a new stake in shares of NET Power during the 2nd quarter valued at about $25,000. Sei Investments Co. bought a new stake in shares of NET Power during the 2nd quarter valued at about $32,000. Deutsche Bank AG raised its stake in NET Power by 63.0% in the first 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. Finally, Quantbot Technologies LP purchased a new stake in NET Power in the third quarter worth about $39,000. Hedge funds and other 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.