8 Rivers Capital, Llc Sells 45,000 Shares of NET Power (NYSE:NPWR) Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 45,000 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $1.41, for a total value of $63,450.00. Following the transaction, the insider owned 2,655,000 shares of the company’s stock, valued at $3,743,550. This trade represents a 1.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Major 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 Thursday, July 30th, 8 Rivers Capital, Llc sold 155,000 shares of NET Power stock. The stock was sold at an average price of $1.43, for a total value of $221,650.00.
• 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 value of $82,111.26.
• On Wednesday, May 13th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The shares were sold at an average price of $2.43, for a total value of $85,050.00.
• On Tuesday, May 12th, 8 Rivers Capital, Llc sold 400,000 shares of NET Power stock. The shares were sold at an average price of $2.44, for a total transaction of $976,000.00.

NET Power Stock Down 2.4%

Shares of NYSE NPWR opened at $1.44 on Friday. The stock has a market cap of $322.04 million, a P/E ratio of -0.24 and a beta of 1.06. The firm’s 50-day simple moving average is $1.68 and its 200 day simple moving average is $1.87. NET Power Inc. has a fifty-two week low of $1.35 and a fifty-two week high of $5.20.

NET Power (NYSE:NPWR) last announced its 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).

Institutional Trading of NET Power

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in shares of NET Power by 40.1% in the first quarter. Bank of America Corp DE now owns 35,083 shares of the company’s stock valued at $55,000 after buying an additional 10,034 shares during the period. Renaissance Technologies LLC grew its holdings in NET Power by 644.0% during the first quarter. Renaissance Technologies LLC now owns 703,800 shares of the company’s stock worth $1,098,000 after acquiring an additional 609,200 shares during the period. Summit Securities Group LLC bought a new stake in NET Power in the first quarter worth about $30,000. Janney Montgomery Scott LLC raised its position in NET Power by 10.2% in the first quarter. Janney Montgomery Scott LLC now owns 133,000 shares of the company’s stock worth $207,000 after acquiring an additional 12,351 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in NET Power by 99.3% in the 4th quarter. Empowered Funds LLC now owns 444,734 shares of the company’s stock valued at $1,014,000 after acquiring an additional 221,530 shares during the last quarter. Institutional investors and hedge funds own 53.62% of the company’s stock.

Analyst Upgrades and Downgrades

NPWR has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Weiss Ratings lowered shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 27th. One research 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.com, NET Power presently has a consensus rating of “Hold” and an average target price of $3.50.

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.