NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 130,000 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 130,000 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $2.35, for a total transaction of $305,500.00. Following the transaction, the insider directly owned 1,420,000 shares in the company, valued at $3,337,000. The trade was a 8.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 Wednesday, January 28th, 8 Rivers Capital, Llc sold 65,220 shares of NET Power stock. The shares were sold at an average price of $2.38, for a total transaction of $155,223.60.
• On Tuesday, January 27th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.38, for a total transaction of $238,000.00.
• On Friday, January 16th, 8 Rivers Capital, Llc sold 230,000 shares of NET Power stock. The stock was sold at an average price of $2.63, for a total transaction of $604,900.00.
• On Wednesday, January 14th, 8 Rivers Capital, Llc sold 135,000 shares of NET Power stock. The stock was sold at an average price of $2.74, for a total value of $369,900.00.
• On Wednesday, December 24th, 8 Rivers Capital, Llc sold 170,000 shares of NET Power stock. The shares were sold at an average price of $2.21, for a total value of $375,700.00.
• 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 value 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 value 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 value 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 value of $112,800.00.
• On Monday, December 8th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The shares were sold at an average price of $2.81, for a total value of $393,400.00.

NET Power Stock Performance

NYSE:NPWR opened at $2.34 on Thursday. The company has a market capitalization of $518.70 million, a P/E ratio of -0.31 and a beta of 0.81. The stock’s 50 day moving average price is $2.56 and its 200 day moving average price is $2.84. NET Power Inc. has a 52 week low of $1.48 and a 52 week high of $8.98.

NET Power (NYSE:NPWR) last posted its earnings results on Thursday, November 13th. The company reported $5.84 EPS for the quarter, topping the consensus estimate of ($0.16) by $6.00. As a group, sell-side analysts forecast that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC bought a new stake in shares of NET Power in the second quarter valued at approximately $25,000. Geode Capital Management LLC boosted its holdings in NET Power by 21.4% in the 2nd quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock valued at $2,078,000 after purchasing an additional 148,307 shares during the period. JPMorgan Chase & Co. boosted its holdings in NET Power by 48.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock valued at $40,000 after purchasing an additional 5,255 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in NET Power in the 2nd quarter valued at $90,000. Finally, Invesco Ltd. acquired a new stake in NET Power in the 2nd quarter worth $25,000. 53.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NPWR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NET Power in a research report on Thursday, January 22nd. Citigroup cut their price objective 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 raised NET Power from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $2.00 to $3.00 in a research 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.