NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 32,583 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 32,583 shares of NET Power stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $3.70, for a total value of $120,557.10. Following the completion of the sale, the insider directly owned 2,967,417 shares in the company, valued at approximately $10,979,442.90. This represents a 1.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 shares were sold at an average price of $3.77, for a total value of $754,000.00.
• On Thursday, October 23rd, 8 Rivers Capital, Llc sold 284,100 shares of NET Power stock. The shares were sold at an average price of $3.69, for a total value of $1,048,329.00.
• On Wednesday, October 22nd, 8 Rivers Capital, Llc sold 89,000 shares of NET Power stock. The shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $4.86, for a total value of $1,082,035.26.

NET Power Stock Up 0.7%

Shares of NYSE NPWR opened at $3.69 on Tuesday. The business’s 50 day moving average price is $2.98 and its two-hundred day moving average price is $2.58. The company has a market cap of $807.83 million, a PE ratio of -1.56 and a beta of 0.75. NET Power Inc. has a twelve month low of $1.48 and a twelve month high of $14.28.

NET Power (NYSE:NPWR) last announced 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, research analysts anticipate that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On NET Power

A number of institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. boosted its holdings in shares of NET Power by 16.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock worth $7,015,000 after acquiring an additional 400,000 shares during the period. CenterBook Partners LP boosted its holdings in shares of NET Power by 1,655.5% during the first quarter. CenterBook Partners LP now owns 1,744,770 shares of the company’s stock worth $4,589,000 after acquiring an additional 1,645,380 shares during the period. Geode Capital Management LLC boosted its holdings in shares of NET Power by 21.4% during the second quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock worth $2,078,000 after acquiring an additional 148,307 shares during the period. HITE Hedge Asset Management LLC boosted its holdings in shares of NET Power by 80.6% during the first quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company’s stock worth $1,955,000 after acquiring an additional 331,726 shares during the period. Finally, Caption Management LLC boosted its holdings in shares of NET Power by 619.8% during the second quarter. Caption Management LLC now owns 401,899 shares of the company’s stock worth $993,000 after acquiring an additional 346,068 shares during the period. Institutional investors 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 research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus 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.