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

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 170,000 shares of the stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $2.21, for a total transaction of $375,700.00. Following the completion of the transaction, the insider directly owned 2,050,000 shares of the company’s stock, valued at $4,530,500. The trade was a 7.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock 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 stock was 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 shares were 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 value 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 value of $393,400.00.
• On Friday, December 5th, 8 Rivers Capital, Llc sold 105,000 shares of NET Power stock. The stock was sold at an average price of $2.91, for a total value of $305,550.00.
• On Thursday, December 4th, 8 Rivers Capital, Llc sold 65,000 shares of NET Power stock. The shares were 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 shares were 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 stock was 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 Stock Up 3.1%

Shares of NYSE NPWR opened at $2.31 on Wednesday. NET Power Inc. has a 52 week low of $1.48 and a 52 week high of $11.83. The business’s 50 day moving average price is $2.90 and its 200 day moving average price is $2.85. The firm has a market cap of $513.15 million, a P/E ratio of -0.30 and a beta of 0.80.

NET Power (NYSE:NPWR) last announced its quarterly earnings data on Thursday, November 13th. The company reported $5.84 EPS for the quarter, beating the consensus estimate of ($0.16) by $6.00. As a group, research analysts expect that NET Power Inc. will post -0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Citigroup lowered their price target on shares of NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a research note on Wednesday, October 8th. Finally, Barclays raised NET Power from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $2.00 to $3.00 in a report on Friday, November 14th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.50.

Institutional Inflows and Outflows

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

About NET Power

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.