Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells $282,100.00 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 130,000 shares of the stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $2.17, for a total transaction of $282,100.00. Following the completion of the sale, the insider directly owned 2,220,000 shares in the company, valued at approximately $4,817,400. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 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 Monday, December 22nd, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.26, for a total transaction of $226,000.00.
• On Friday, December 19th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.34, for a total transaction of $234,000.00.
• On Tuesday, December 9th, 8 Rivers Capital, Llc sold 40,000 shares of NET Power stock. The stock was sold at an average price of $2.82, for a total transaction of $112,800.00.
• 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 transaction of $393,400.00.
• On Friday, December 5th, 8 Rivers Capital, Llc sold 105,000 shares of NET Power stock. The shares were sold at an average price of $2.91, for a total transaction of $305,550.00.
• On Thursday, December 4th, 8 Rivers Capital, Llc sold 65,000 shares of NET Power stock. The stock was sold at an average price of $2.94, for a total transaction of $191,100.00.
• 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 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 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 shares were sold at an average price of $2.57, for a total value of $642,500.00.

NET Power Trading Down 1.9%

Shares of NPWR traded down $0.04 during trading hours on Tuesday, reaching $2.17. 1,293,368 shares of the company’s stock traded hands, compared to its average volume of 1,416,357. NET Power Inc. has a 12 month low of $1.48 and a 12 month high of $11.83. The stock has a market cap of $481.60 million, a PE ratio of -0.28 and a beta of 0.80. The firm’s 50 day simple moving average is $3.12 and its 200-day simple moving average is $2.87.

NET Power (NYSE:NPWR) last posted its quarterly earnings data on Thursday, November 13th. The company reported $5.84 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $6.00. As a group, analysts expect that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NET Power

A number of institutional investors have recently made changes to their positions in NPWR. Janney Montgomery Scott LLC purchased a new position in NET Power in the 2nd quarter worth $25,000. Invesco Ltd. bought a new position in shares of NET Power during the second quarter valued at about $25,000. Sei Investments Co. bought a new position in shares of NET Power during the second quarter valued at about $32,000. Quantbot Technologies LP purchased a new position in shares of NET Power in the third quarter worth about $39,000. Finally, Deutsche Bank AG lifted its stake in shares of NET Power by 63.0% in the 1st quarter. Deutsche Bank AG now owns 14,051 shares of the company’s stock valued at $37,000 after acquiring an additional 5,429 shares during the last quarter. Hedge funds and other institutional investors own 53.62% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NPWR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NET Power in a report on Wednesday, October 8th. Citigroup lowered their price target on NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Finally, Barclays raised NET Power from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $2.00 to $3.00 in a research note on Friday, November 14th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.50.

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.