NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 140,000 Shares

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 140,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $2.81, for a total value of $393,400.00. Following the completion of the transaction, the insider owned 2,590,000 shares in the company, valued at approximately $7,277,900. The trade was a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 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 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 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 shares were 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 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 shares were sold at an average price of $4.05, for a total transaction of $73,369.80.
• On Tuesday, October 28th, 8 Rivers Capital, Llc sold 7,585 shares of NET Power stock. The stock was sold at an average price of $3.77, for a total transaction of $28,595.45.

NET Power Stock Performance

NET Power stock traded down $0.10 during mid-day trading on Monday, reaching $2.76. The company’s stock had a trading volume of 788,773 shares, compared to its average volume of 1,444,846. The firm’s fifty day moving average price is $3.36 and its two-hundred day moving average price is $2.83. NET Power Inc. has a 12-month low of $1.48 and a 12-month high of $11.83. The company has a market capitalization of $612.00 million, a P/E ratio of -0.36 and a beta of 0.80.

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

Hedge Funds Weigh In On NET Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC bought a new position in shares of NET Power in the 2nd quarter worth $25,000. Invesco Ltd. purchased a new position in NET Power in the second quarter worth $25,000. Sei Investments Co. purchased a new position in NET Power in the second quarter worth $32,000. Deutsche Bank AG increased its stake in NET Power by 63.0% in the first 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. Finally, Quantbot Technologies LP purchased a new stake in NET Power during the third quarter valued at about $39,000. Hedge funds and other institutional investors own 53.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NET Power in a report on Wednesday, October 8th. Barclays upgraded shares of NET Power from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $2.00 to $3.00 in a research report on Friday, November 14th. Finally, Citigroup decreased 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. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.50.

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.