NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 201,000 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 201,000 shares of NET Power stock in a transaction on Monday, October 20th. The stock was sold at an average price of $3.58, for a total value of $719,580.00. Following the completion of the sale, the insider directly owned 3,562,400 shares of the company’s stock, valued at approximately $12,753,392. The trade was a 5.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 Wednesday, October 22nd, 8 Rivers Capital, Llc sold 89,000 shares of NET Power stock. The stock was 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 stock was sold at an average price of $3.53, for a total value of $668,229.00.
• 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.
• On Wednesday, October 15th, 8 Rivers Capital, Llc sold 222,641 shares of NET Power stock. The stock was sold at an average price of $4.86, for a total value of $1,082,035.26.

NET Power Trading Down 4.7%

NET Power stock opened at $3.36 on Thursday. NET Power Inc. has a 12 month low of $1.48 and a 12 month high of $14.28. The firm has a market cap of $735.48 million, a price-to-earnings ratio of -1.42 and a beta of 0.75. The stock has a fifty day simple moving average of $2.91 and a two-hundred day simple moving average of $2.54.

NET Power (NYSE:NPWR) last issued its quarterly earnings data 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 research analysts forecast that NET Power Inc. will post -0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NET Power in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the company. According to MarketBeat, NET Power presently has a consensus rating of “Hold” and a consensus target price of $4.00.

Hedge Funds Weigh In On NET Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC purchased a new position in NET Power during the second quarter valued at $25,000. Invesco Ltd. purchased a new position in NET Power during the second quarter valued at $25,000. Sei Investments Co. purchased a new position in NET Power during the second quarter valued at $32,000. Deutsche Bank AG lifted its position in NET Power by 63.0% during 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 in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in NET Power by 48.7% during the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock valued at $40,000 after purchasing an additional 5,255 shares in the last quarter. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

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.