NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 284,100 Shares

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 284,100 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $3.69, for a total value of $1,048,329.00. Following the sale, the insider owned 3,000,000 shares in the company, valued at $11,070,000. The trade was a 8.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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, October 27th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The stock was sold at an average price of $3.77, for a total value of $754,000.00.
• On Friday, October 24th, 8 Rivers Capital, Llc sold 32,583 shares of NET Power stock. The stock was sold at an average price of $3.70, for a total value of $120,557.10.
• On Wednesday, October 22nd, 8 Rivers Capital, Llc sold 89,000 shares of NET Power stock. The stock was sold at an average price of $3.31, for a total value of $294,590.00.
• On Tuesday, October 21st, 8 Rivers Capital, Llc sold 189,300 shares of NET Power stock. The stock was sold at an average price of $3.53, for a total value of $668,229.00.
• On Monday, October 20th, 8 Rivers Capital, Llc sold 201,000 shares of NET Power stock. The stock was sold at an average price of $3.58, for a total value of $719,580.00.
• On Thursday, October 16th, 8 Rivers Capital, Llc sold 13,959 shares of NET Power stock. The stock was sold at an average price of $4.71, for a total value of $65,746.89.
• On Wednesday, October 15th, 8 Rivers Capital, Llc sold 222,641 shares of NET Power stock. The stock was sold at an average price of $4.86, for a total value of $1,082,035.26.

NET Power Stock Performance

Shares of NPWR stock opened at $3.69 on Tuesday. NET Power Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $14.28. The firm has a market capitalization of $807.83 million, a price-to-earnings ratio of -1.56 and a beta of 0.75. The stock’s 50-day simple moving average is $2.98 and its 200-day simple moving average is $2.58.

NET Power (NYSE:NPWR) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.24). As a group, equities analysts forecast that NET Power Inc. will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On NET Power

Large investors have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. boosted its position in NET Power by 481.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,440,000 shares of the company’s stock worth $6,417,000 after purchasing an additional 2,020,000 shares in the last quarter. CenterBook Partners LP boosted its position in NET Power by 1,655.5% in the 1st quarter. CenterBook Partners LP now owns 1,744,770 shares of the company’s stock worth $4,589,000 after purchasing an additional 1,645,380 shares in the last quarter. Caption Management LLC boosted its position in NET Power by 619.8% in the 2nd quarter. Caption Management LLC now owns 401,899 shares of the company’s stock worth $993,000 after purchasing an additional 346,068 shares in the last quarter. HITE Hedge Asset Management LLC boosted its position in NET Power by 80.6% in the 1st quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company’s stock worth $1,955,000 after purchasing an additional 331,726 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in NET Power by 21.4% in the 2nd 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. Hedge funds and other institutional investors own 53.62% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of NET Power in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $4.00.

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.