8 Rivers Capital, Llc Sells 65,000 Shares of NET Power (NYSE:NPWR) Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 65,000 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $2.94, for a total value of $191,100.00. Following the completion of the transaction, the insider directly owned 2,835,000 shares in the company, valued at $8,334,900. This trade represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own 10% or more 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 Friday, November 28th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The stock was 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 shares were 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 stock was sold at an average price of $2.60, for a total value 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 shares were 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 stock was 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 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.

NET Power Stock Down 3.3%

Shares of NYSE:NPWR traded down $0.10 on Monday, reaching $2.76. 788,773 shares of the company’s stock were exchanged, compared to its average volume of 1,444,846. NET Power Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $11.83. The business’s 50-day moving average is $3.36 and its two-hundred day moving average is $2.83. The firm has a market capitalization of $612.00 million, a price-to-earnings 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, topping the consensus estimate of ($0.16) by $6.00. Analysts predict that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of NET Power

Institutional investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. increased its stake in shares of NET Power by 481.0% during 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 boosted its stake in NET Power by 78.8% during the 3rd quarter. CenterBook Partners LP now owns 1,248,348 shares of the company’s stock valued at $3,758,000 after purchasing an additional 550,270 shares in the last quarter. Caption Management LLC boosted its stake in NET Power by 619.8% during 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 in the last quarter. HITE Hedge Asset Management LLC increased 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 during the period. Finally, UBS Group AG raised its stake in shares of NET Power by 183.1% in the 3rd quarter. UBS Group AG now owns 430,452 shares of the company’s stock worth $1,296,000 after buying an additional 278,400 shares in the last quarter. 53.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NPWR has been the topic of several recent research reports. Barclays upgraded shares of NET Power from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $2.00 to $3.00 in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NET Power in a report on Wednesday, October 8th. Finally, Citigroup decreased their price objective on NET Power from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, NET Power has an average rating of “Hold” and a consensus price target of $3.50.

About NET Power

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.