8 Rivers Capital, Llc Sells 338,653 Shares of NET Power (NYSE:NPWR) Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 338,653 shares of NET Power 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 transaction, the insider directly owned 3,500,000 shares in the company, valued at approximately $9,835,000. This represents a 8.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% 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 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 value 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 value 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 value of $73,369.80.
• On Tuesday, October 28th, 8 Rivers Capital, Llc sold 7,585 shares of NET Power stock. The shares were sold at an average price of $3.77, for a total value of $28,595.45.
• On Thursday, October 30th, 8 Rivers Capital, Llc sold 107,754 shares of NET Power stock. The stock was 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 shares were sold at an average price of $4.12, for a total transaction of $3,241,747.84.
• 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 Thursday, October 23rd, 8 Rivers Capital, Llc sold 284,100 shares of NET Power stock. The shares were 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 shares were sold at an average price of $3.31, for a total transaction of $294,590.00.

NET Power Trading Down 5.4%

Shares of NYSE:NPWR traded down $0.15 during mid-day trading on Wednesday, reaching $2.54. The company had a trading volume of 1,679,434 shares, compared to its average volume of 1,466,042. NET Power Inc. has a one year low of $1.48 and a one year high of $14.12. The company’s 50-day moving average price is $3.30 and its 200-day moving average price is $2.74. The firm 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 announced its quarterly earnings data on Thursday, November 13th. The company reported $5.84 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $6.00. On average, research analysts anticipate that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Citigroup cut their price target on NET Power from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays upgraded shares of NET Power from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $2.00 to $3.00 in a research report 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 equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.50.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. boosted its position in shares of NET Power by 481.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,440,000 shares of the company’s stock valued at $6,417,000 after acquiring an additional 2,020,000 shares during the period. CenterBook Partners LP lifted its stake in NET Power by 1,655.5% in the 1st quarter. CenterBook Partners LP now owns 1,744,770 shares of the company’s stock worth $4,589,000 after purchasing an additional 1,645,380 shares in the last quarter. Caption Management LLC boosted its holdings in NET Power by 619.8% in the 2nd quarter. Caption Management LLC now owns 401,899 shares of the company’s stock valued at $993,000 after purchasing an additional 346,068 shares during the period. HITE Hedge Asset Management LLC grew its position in shares of NET Power by 80.6% during the 1st quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company’s stock valued at $1,955,000 after purchasing an additional 331,726 shares in the last quarter. Finally, UBS Group AG grew its position in shares of NET Power by 183.1% during the 3rd quarter. UBS Group AG now owns 430,452 shares of the company’s stock valued at $1,296,000 after purchasing an additional 278,400 shares in the last quarter. Institutional investors own 53.62% of the company’s stock.

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.