NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 89,255 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 89,255 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $1.51, for a total value of $134,775.05. Following the sale, the insider directly owned 2,150,745 shares in the company, valued at $3,247,624.95. This represents a 3.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large 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 Wednesday, August 5th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The stock was sold at an average price of $1.51, for a total value of $211,400.00.
• On Tuesday, August 4th, 8 Rivers Capital, Llc sold 120,000 shares of NET Power stock. The shares were sold at an average price of $1.54, for a total value of $184,800.00.
• On Thursday, July 30th, 8 Rivers Capital, Llc sold 155,000 shares of NET Power stock. The shares were sold at an average price of $1.43, for a total value of $221,650.00.
• On Wednesday, July 29th, 8 Rivers Capital, Llc sold 45,000 shares of NET Power stock. The stock was sold at an average price of $1.41, for a total value of $63,450.00.
• On Tuesday, July 28th, 8 Rivers Capital, Llc sold 55,858 shares of NET Power stock. The stock was sold at an average price of $1.47, for a total value of $82,111.26.
• On Wednesday, May 13th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The shares were sold at an average price of $2.43, for a total value of $85,050.00.
• On Tuesday, May 12th, 8 Rivers Capital, Llc sold 400,000 shares of NET Power stock. The shares were sold at an average price of $2.44, for a total value of $976,000.00.

NET Power Price Performance

NPWR traded down $0.03 on Thursday, hitting $1.50. 458,581 shares of the stock were exchanged, compared to its average volume of 788,476. The firm has a market capitalization of $335.50 million, a price-to-earnings ratio of -0.25 and a beta of 1.07. NET Power Inc. has a 12 month low of $1.35 and a 12 month high of $5.20. The business has a 50-day moving average of $1.65 and a two-hundred day moving average of $1.84.

NET Power (NYSE:NPWR) last released its earnings results on Monday, May 11th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.05).

Hedge Funds Weigh In On NET Power

A number of institutional investors have recently added to or reduced their stakes in NPWR. Geode Capital Management LLC boosted its position in NET Power by 21.4% in the second quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock valued at $2,078,000 after buying an additional 148,307 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of NET Power by 48.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock valued at $40,000 after acquiring an additional 5,255 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of NET Power during the 2nd quarter valued at $25,000. Federated Hermes Inc. bought a new stake in NET Power during the 2nd quarter worth $151,000. Finally, Sei Investments Co. bought a new stake in NET Power during the 2nd quarter worth $32,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wall Street Zen cut NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Weiss Ratings lowered NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 27th. One equities research 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 MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.50.

About NET Power

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.