NET Power (NYSE:NPWR) Major Shareholder Sells 35,000 Shares

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $2.43, for a total transaction of $85,050.00. Following the transaction, the insider owned 2,965,000 shares of the company’s stock, valued at approximately $7,204,950. This represents a 1.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

8 Rivers Capital, Llc also recently made the following trade(s):

• On Tuesday, May 12th, 8 Rivers Capital, Llc sold 400,000 shares of NET Power stock. The stock was sold at an average price of $2.44, for a total value of $976,000.00.
• On Tuesday, March 3rd, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.04, for a total value of $204,000.00.
• On Monday, March 2nd, 8 Rivers Capital, Llc sold 79,858 shares of NET Power stock. The shares were sold at an average price of $2.05, for a total value of $163,708.90.
• On Friday, February 27th, 8 Rivers Capital, Llc sold 4,744 shares of NET Power stock. The shares were sold at an average price of $2.00, for a total value of $9,488.00.
• On Thursday, February 26th, 8 Rivers Capital, Llc sold 1,881 shares of NET Power stock. The stock was sold at an average price of $2.00, for a total value of $3,762.00.
• On Friday, February 20th, 8 Rivers Capital, Llc sold 63,517 shares of NET Power stock. The shares were sold at an average price of $2.03, for a total value of $128,939.51.
• On Thursday, February 19th, 8 Rivers Capital, Llc sold 125,000 shares of NET Power stock. The shares were sold at an average price of $2.14, for a total transaction of $267,500.00.
• On Wednesday, February 18th, 8 Rivers Capital, Llc sold 75,000 shares of NET Power stock. The stock was sold at an average price of $2.07, for a total transaction of $155,250.00.
• On Friday, February 13th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.14, for a total transaction of $214,000.00.

NET Power Trading Down 8.1%

NPWR stock traded down $0.20 during trading on Thursday, hitting $2.22. 836,612 shares of the stock traded hands, compared to its average volume of 806,063. NET Power Inc. has a one year low of $1.46 and a one year high of $5.20. The stock has a market cap of $497.08 million, a price-to-earnings ratio of -0.38 and a beta of 1.03. The company has a 50 day simple moving average of $1.77 and a 200 day simple moving average of $2.32.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, NET Power has an average rating of “Hold” and a consensus price target of $3.50.

Institutional Investors Weigh In On NET Power

Hedge funds have recently added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new stake in NET Power in the 1st quarter valued at about $30,000. Janney Montgomery Scott LLC raised its stake in shares of NET Power by 10.2% in the first quarter. Janney Montgomery Scott LLC now owns 133,000 shares of the company’s stock worth $207,000 after acquiring an additional 12,351 shares during the last quarter. Empowered Funds LLC lifted its position in shares of NET Power by 99.3% during the fourth quarter. Empowered Funds LLC now owns 444,734 shares of the company’s stock worth $1,014,000 after purchasing an additional 221,530 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of NET Power during the fourth quarter valued at approximately $194,000. Finally, Polymer Capital Management US LLC bought a new stake in shares of NET Power during the fourth quarter valued at approximately $96,000. Institutional investors own 53.62% of the company’s stock.

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.