NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 8,477 Shares

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 8,477 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $4.00, for a total transaction of $33,908.00. Following the sale, the insider directly owned 1,838,653 shares in the company, valued at $7,354,612. The trade was a 0.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

8 Rivers Capital, Llc also recently made the following trade(s):

• On Friday, October 31st, 8 Rivers Capital, Llc sold 18,116 shares of NET Power stock. The stock was sold at an average price of $4.05, for a total transaction of $73,369.80.
• On Tuesday, October 28th, 8 Rivers Capital, Llc sold 7,585 shares of NET Power stock. The stock was sold at an average price of $3.77, for a total transaction of $28,595.45.
• On Thursday, October 30th, 8 Rivers Capital, Llc sold 107,754 shares of NET Power stock. The stock was sold at an average price of $4.04, for a total transaction of $435,326.16.
• On Wednesday, October 29th, 8 Rivers Capital, Llc sold 786,832 shares of NET Power stock. The stock was sold at an average price of $4.12, for a total transaction of $3,241,747.84.
• On Monday, October 27th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The stock was sold at an average price of $3.77, for a total transaction of $754,000.00.
• On Friday, October 24th, 8 Rivers Capital, Llc sold 32,583 shares of NET Power stock. The shares were sold at an average price of $3.70, for a total transaction of $120,557.10.
• 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 transaction 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 transaction 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 transaction 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 transaction of $719,580.00.

NET Power Stock Performance

NET Power stock opened at $3.57 on Wednesday. The company’s fifty day moving average price is $3.14 and its 200 day moving average price is $2.65. NET Power Inc. has a 1 year low of $1.48 and a 1 year high of $14.28. The stock has a market capitalization of $781.52 million, a P/E ratio of -1.51 and a beta of 0.78.

NET Power (NYSE:NPWR) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.24). Sell-side analysts predict that NET Power Inc. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of NET Power in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, NET Power currently has a consensus rating of “Reduce” and an average target price of $4.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. lifted its holdings in NET Power by 16.4% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company’s stock valued at $7,015,000 after purchasing an additional 400,000 shares in the last quarter. CenterBook Partners LP lifted its holdings in NET Power by 1,655.5% in the 1st quarter. CenterBook Partners LP now owns 1,744,770 shares of the company’s stock valued at $4,589,000 after purchasing an additional 1,645,380 shares in the last quarter. Geode Capital Management LLC lifted its holdings in NET Power by 21.4% in the 2nd quarter. Geode Capital Management LLC now owns 841,060 shares of the company’s stock valued at $2,078,000 after purchasing an additional 148,307 shares in the last quarter. HITE Hedge Asset Management LLC lifted its holdings in NET Power by 80.6% in the 1st quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company’s stock valued at $1,955,000 after purchasing an additional 331,726 shares in the last quarter. Finally, Caption Management LLC lifted its holdings in NET Power by 619.8% in the 2nd quarter. Caption Management LLC now owns 401,899 shares of the company’s stock valued at $993,000 after purchasing an additional 346,068 shares in the last quarter. Hedge funds and other institutional investors own 53.62% of the company’s stock.

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.