NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 55,858 Shares

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 55,858 shares of NET Power stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $1.47, for a total transaction of $82,111.26. Following the completion of the sale, the insider directly owned 2,700,000 shares in the company, valued at $3,969,000. This represents a 2.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more 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, July 30th, 8 Rivers Capital, Llc sold 155,000 shares of NET Power stock. The stock was sold at an average price of $1.43, for a total transaction 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 transaction of $63,450.00.
• 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 transaction 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 transaction of $976,000.00.

NET Power Stock Up 8.5%

Shares of NYSE NPWR opened at $1.48 on Friday. The firm has a market cap of $331.01 million, a price-to-earnings ratio of -0.25 and a beta of 1.06. The company’s 50-day simple moving average is $1.69 and its 200-day simple moving average is $1.88. NET Power Inc. has a 52-week low of $1.35 and a 52-week high of $5.20.

NET Power (NYSE:NPWR) last released its quarterly earnings results 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).

Institutional Investors Weigh In On NET Power

A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its stake in shares of NET Power by 40.1% in the first quarter. Bank of America Corp DE now owns 35,083 shares of the company’s stock worth $55,000 after buying an additional 10,034 shares in the last quarter. Renaissance Technologies LLC grew its stake in NET Power by 644.0% during the 1st quarter. Renaissance Technologies LLC now owns 703,800 shares of the company’s stock valued at $1,098,000 after acquiring an additional 609,200 shares in the last quarter. 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 holdings in NET Power by 10.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 133,000 shares of the company’s stock valued at $207,000 after acquiring an additional 12,351 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in NET Power by 99.3% in the 4th 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. 53.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NPWR has been the subject of a number of research analyst reports. Weiss Ratings cut NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 27th. Wall Street Zen lowered NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, NET Power has an average rating of “Hold” and a consensus price target 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.