NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 155,000 Shares

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 155,000 shares of NET Power stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $1.43, for a total value of $221,650.00. Following the transaction, the insider owned 2,500,000 shares of the company’s stock, valued at approximately $3,575,000. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 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, July 29th, 8 Rivers Capital, Llc sold 45,000 shares of NET Power stock. The shares were sold at an average price of $1.41, for a total transaction of $63,450.00.
• On Tuesday, July 28th, 8 Rivers Capital, Llc sold 55,858 shares of NET Power stock. The shares were sold at an average price of $1.47, for a total transaction of $82,111.26.
• On Wednesday, May 13th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The stock was sold at an average price of $2.43, for a total transaction of $85,050.00.
• On Tuesday, May 12th, 8 Rivers Capital, Llc sold 400,000 shares of NET Power stock. The stock was sold at an average price of $2.44, for a total transaction of $976,000.00.

NET Power Stock Up 8.5%

NYSE:NPWR opened at $1.48 on Friday. NET Power Inc. has a 52 week low of $1.35 and a 52 week high of $5.20. The stock’s 50-day moving average price is $1.69 and its 200-day moving average price is $1.88. The stock has a market capitalization of $331.01 million, a PE ratio of -0.25 and a beta of 1.06.

NET Power (NYSE:NPWR) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05).

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NPWR shares. Wall Street Zen cut shares of NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. Weiss Ratings lowered shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, NET Power has an average rating of “Hold” and an average target price of $3.50.

Hedge Funds Weigh In On NET Power

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of NET Power by 48.7% in the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock valued at $40,000 after buying an additional 5,255 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of NET Power by 44.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company’s stock worth $46,000 after purchasing an additional 5,739 shares during the last quarter. Barclays PLC grew its position in shares of NET Power by 14.6% in the fourth quarter. Barclays PLC now owns 54,750 shares of the company’s stock valued at $125,000 after purchasing an additional 6,970 shares in the last quarter. Engineers Gate Manager LP increased its holdings in shares of NET Power by 17.8% in the second quarter. Engineers Gate Manager LP now owns 46,433 shares of the company’s stock valued at $115,000 after purchasing an additional 7,002 shares during the last quarter. Finally, Sig Brokerage LP lifted its position in NET Power by 50.3% during the third quarter. Sig Brokerage LP now owns 24,298 shares of the company’s stock worth $73,000 after buying an additional 8,130 shares in the last quarter. Hedge funds and other institutional investors own 53.62% of the company’s stock.

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.