NET Power (NYSE:NPWR) Major Shareholder Sells 100,000 Shares

NET Power Inc. (NYSE:NPWRGet Free Report) major shareholder 8 Rivers Capital, Llc sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $1.94, for a total transaction of $194,000.00. Following the completion of the sale, the insider owned 900,000 shares of the company’s stock, valued at approximately $1,746,000. This represents a 10.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

8 Rivers Capital, Llc also recently made the following trade(s):

  • On Wednesday, September 9th, 8 Rivers Capital, Llc sold 150,000 shares of NET Power stock. The shares were sold at an average price of $1.84, for a total transaction of $276,000.00.
  • On Wednesday, August 26th, 8 Rivers Capital, Llc sold 41,350 shares of NET Power stock. The stock was sold at an average price of $1.91, for a total transaction of $78,978.50.
  • On Tuesday, August 25th, 8 Rivers Capital, Llc sold 201,550 shares of NET Power stock. The shares were sold at an average price of $1.91, for a total value of $384,960.50.
  • On Friday, August 14th, 8 Rivers Capital, Llc sold 507,100 shares of NET Power stock. The shares were sold at an average price of $1.95, for a total value of $988,845.00.
  • On Thursday, August 13th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The stock was sold at an average price of $1.62, for a total value of $324,000.00.
  • On Wednesday, August 12th, 8 Rivers Capital, Llc sold 50,000 shares of NET Power stock. The shares were sold at an average price of $1.63, for a total value of $81,500.00.
  • On Tuesday, August 11th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The stock was sold at an average price of $1.60, for a total transaction of $56,000.00.
  • On Monday, August 10th, 8 Rivers Capital, Llc sold 55,400 shares of NET Power stock. The stock was sold at an average price of $1.55, for a total transaction of $85,870.00.
  • On Friday, August 7th, 8 Rivers Capital, Llc sold 60,345 shares of NET Power stock. The shares were sold at an average price of $1.53, for a total transaction of $92,327.85.
  • On Thursday, August 6th, 8 Rivers Capital, Llc sold 89,255 shares of NET Power stock. The shares were sold at an average price of $1.51, for a total transaction of $134,775.05.

NET Power Trading Down 2.4%

Shares of NYSE:NPWR traded down $0.04 during trading on Thursday, reaching $1.80. The stock had a trading volume of 389,056 shares, compared to its average volume of 816,415. The firm’s 50-day simple moving average is $1.65 and its 200 day simple moving average is $1.75. NET Power Inc. has a one year low of $1.35 and a one year high of $5.20. The company has a market capitalization of $405.87 million, a P/E ratio of -0.28 and a beta of 1.10.

NET Power (NYSE:NPWRGet Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.84).

Wall Street Analysts Forecast Growth

NPWR has been the topic of a number of recent analyst reports. Weiss Ratings raised NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Wall Street Zen downgraded NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. One 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 MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.50.

Read Our Latest Report on NET Power

Institutional Trading of NET Power

Several large investors have recently added to or reduced their stakes in NPWR. Adage Capital Partners GP L.L.C. increased its stake in shares of NET Power by 16.4% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock worth $7,015,000 after acquiring an additional 400,000 shares during the period. CenterBook Partners LP lifted its position in NET Power by 48.0% during the fourth quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock valued at $4,214,000 after purchasing an additional 599,725 shares during the period. Tidal Investments LLC boosted its holdings in NET Power by 190.0% in the second quarter. Tidal Investments LLC now owns 1,546,562 shares of the company’s stock valued at $2,583,000 after purchasing an additional 1,013,309 shares during the last quarter. Geode Capital Management LLC grew its position in NET Power by 21.4% during the 2nd quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock worth $2,078,000 after purchasing an additional 148,307 shares during the period. Finally, Two Sigma Investments LP grew its position in NET Power by 36.7% during the 3rd quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock worth $2,474,000 after purchasing an additional 220,831 shares during the period. Hedge funds and other institutional investors own 53.62% of the company’s stock.

NET Power Company Profile

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for NET Power (NYSE:NPWR)

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