Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells $1,082,035.26 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 222,641 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $4.86, for a total value of $1,082,035.26. Following the completion of the sale, the insider directly owned 3,777,359 shares in the company, valued at approximately $18,357,964.74. The trade was a 5.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 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 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.

NET Power Price Performance

Shares of NYSE:NPWR opened at $3.59 on Friday. The business’s 50 day moving average price is $2.87 and its 200-day moving average price is $2.52. NET Power Inc. has a 1 year low of $1.48 and a 1 year high of $14.28. The firm has a market capitalization of $785.90 million, a price-to-earnings ratio of -1.52 and a beta of 0.75.

NET Power (NYSE:NPWR) last posted its quarterly earnings data 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). On average, sell-side analysts expect that NET Power Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of NET Power

A number of hedge funds have recently bought and sold shares of the business. 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 worth $40,000 after purchasing an additional 5,255 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of 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 purchasing an additional 5,429 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in NET Power by 44.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company’s stock worth $46,000 after buying an additional 5,739 shares in the last quarter. Engineers Gate Manager LP boosted its stake in NET Power by 17.8% during the second quarter. Engineers Gate Manager LP now owns 46,433 shares of the company’s stock worth $115,000 after buying an additional 7,002 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in NET Power in the 2nd quarter valued at $25,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of NET Power in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, NET Power has an average rating of “Hold” 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.