Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells 18,116 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder Cynda Beauchamp sold 18,116 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $4.05, for a total value of $73,369.80. Following the completion of the sale, the insider owned 1,847,130 shares in the company, valued at approximately $7,480,876.50. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

NET Power Trading Down 8.8%

Shares of NET Power stock traded down $0.35 during trading on Tuesday, reaching $3.57. The stock had a trading volume of 1,761,693 shares, compared to its average volume of 2,728,695. The company has a market capitalization of $781.52 million, a price-to-earnings ratio of -1.51 and a beta of 0.78. The stock has a fifty day moving average price of $3.14 and a two-hundred day moving average price of $2.65. NET Power Inc. has a 52 week low of $1.48 and a 52 week high of $14.28.

NET Power (NYSE:NPWR) last released its earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.24). On average, equities analysts forecast 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 and hedge funds have recently modified their holdings of NPWR. Janney Montgomery Scott LLC bought a new stake in shares of NET Power in the 2nd quarter valued at about $25,000. Invesco Ltd. bought a new stake in NET Power in the second quarter valued at approximately $25,000. Sei Investments Co. bought a new stake in NET Power in the second quarter valued at approximately $32,000. Deutsche Bank AG raised its stake in 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 buying an additional 5,429 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in NET Power by 48.7% in the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock valued at $40,000 after buying an additional 5,255 shares during the period. 53.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target 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.