8 Rivers Capital, Llc Sells 40,000 Shares of NET Power (NYSE:NPWR) Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 40,000 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2.82, for a total transaction of $112,800.00. Following the completion of the sale, the insider directly owned 2,550,000 shares in the company, valued at $7,191,000. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, December 8th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The shares were sold at an average price of $2.81, for a total value of $393,400.00.
• On Friday, December 5th, 8 Rivers Capital, Llc sold 105,000 shares of NET Power stock. The stock was sold at an average price of $2.91, for a total value of $305,550.00.
• On Thursday, December 4th, 8 Rivers Capital, Llc sold 65,000 shares of NET Power stock. The shares were sold at an average price of $2.94, for a total value of $191,100.00.
• On Friday, November 28th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The shares were sold at an average price of $2.94, for a total value of $588,000.00.
• On Friday, November 21st, 8 Rivers Capital, Llc sold 17,163 shares of NET Power stock. The stock was sold at an average price of $2.50, for a total value of $42,907.50.
• On Thursday, November 20th, 8 Rivers Capital, Llc sold 132,837 shares of NET Power stock. The shares were sold at an average price of $2.60, for a total transaction of $345,376.20.
• On Wednesday, November 19th, 8 Rivers Capital, Llc sold 250,000 shares of NET Power stock. The stock was sold at an average price of $2.57, for a total transaction of $642,500.00.
• On Monday, November 17th, 8 Rivers Capital, Llc sold 338,653 shares of NET Power stock. The stock was sold at an average price of $2.81, for a total transaction of $951,614.93.
• On Monday, November 3rd, 8 Rivers Capital, Llc sold 8,477 shares of NET Power stock. The shares were sold at an average price of $4.00, for a total transaction of $33,908.00.
• On Friday, October 31st, 8 Rivers Capital, Llc sold 18,116 shares of NET Power stock. The stock was sold at an average price of $4.05, for a total transaction of $73,369.80.

NET Power Price Performance

Shares of NYSE:NPWR traded up $0.04 during trading on Thursday, reaching $2.74. 520,086 shares of the company were exchanged, compared to its average volume of 1,433,638. The business’s fifty day simple moving average is $3.34 and its 200-day simple moving average is $2.84. NET Power Inc. has a 12-month low of $1.48 and a 12-month high of $11.83. The firm has a market capitalization of $608.00 million, a PE ratio of -0.36 and a beta of 0.80.

NET Power (NYSE:NPWR) last announced its quarterly earnings results on Thursday, November 13th. The company reported $5.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $6.00. On average, sell-side analysts anticipate that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays raised NET Power from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $2.00 to $3.00 in a research report on Friday, November 14th. Citigroup dropped their target price on shares of NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. 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 given a Sell rating to the stock. According to data from MarketBeat, NET Power presently has a consensus rating of “Hold” and a consensus price target of $3.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. lifted its position 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 acquiring an additional 400,000 shares during the last quarter. CenterBook Partners LP grew its holdings in NET Power by 78.8% in the third quarter. CenterBook Partners LP now owns 1,248,348 shares of the company’s stock worth $3,758,000 after purchasing an additional 550,270 shares during the last quarter. Geode Capital Management LLC increased its position in shares of NET Power by 21.4% during the second 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 in the last quarter. Two Sigma Investments LP lifted its holdings in shares of NET Power by 36.7% during the 3rd quarter. Two Sigma Investments LP now owns 821,793 shares of the company’s stock valued at $2,474,000 after purchasing an additional 220,831 shares during the last quarter. Finally, HITE Hedge Asset Management LLC lifted its holdings 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 during the last quarter. Hedge funds and other 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.