NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 200,000 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 200,000 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $3.77, for a total value of $754,000.00. Following the transaction, the insider owned 2,767,417 shares in the company, valued at approximately $10,433,162.09. This represents a 6.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 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 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 value 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 value 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 value 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 value of $719,580.00.
• On Thursday, October 16th, 8 Rivers Capital, Llc sold 13,959 shares of NET Power stock. The stock was 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 stock was sold at an average price of $4.86, for a total value of $1,082,035.26.

NET Power Price Performance

Shares of NPWR opened at $3.69 on Tuesday. NET Power Inc. has a 12 month low of $1.48 and a 12 month high of $14.28. The stock’s 50-day moving average is $2.98 and its two-hundred day moving average is $2.58. The stock has a market cap of $807.83 million, a PE ratio of -1.56 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) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.24). On average, research analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of NET Power

Several institutional investors and hedge funds have recently bought and sold shares of the company. Argentarii LLC raised its stake in NET Power by 91.8% during the third quarter. Argentarii LLC now owns 51,365 shares of the company’s stock valued at $155,000 after buying an additional 24,580 shares in the last quarter. SG Americas Securities LLC acquired a new stake in NET Power during the third quarter valued at approximately $105,000. Engineers Gate Manager LP raised its stake in NET Power by 17.8% during the second quarter. Engineers Gate Manager LP now owns 46,433 shares of the company’s stock valued at $115,000 after buying an additional 7,002 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in NET Power by 16.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock valued at $7,015,000 after buying an additional 400,000 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in NET Power by 44.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company’s stock valued at $46,000 after buying an additional 5,739 shares in the last quarter. Institutional investors and hedge funds own 53.62% of the company’s stock.

Analysts Set New Price Targets

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

NET Power Company Profile

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.