Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells 45,000 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 45,000 shares of NET Power stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $1.41, for a total transaction of $63,450.00. Following the transaction, the insider directly owned 2,655,000 shares in the company, valued at $3,743,550. This represents a 1.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major 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 Tuesday, July 28th, 8 Rivers Capital, Llc sold 55,858 shares of NET Power stock. The shares were sold at an average price of $1.47, for a total transaction of $82,111.26.
• 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 Trading Up 8.5%

NET Power stock traded up $0.12 during mid-day trading on Thursday, hitting $1.48. The stock had a trading volume of 731,040 shares, compared to its average volume of 800,047. NET Power Inc. has a one year low of $1.35 and a one year high of $5.20. The firm has a market capitalization of $331.02 million, a P/E ratio of -0.25 and a beta of 1.06. The firm’s 50 day moving average is $1.70 and its 200 day moving average is $1.89.

NET Power (NYSE:NPWR) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05).

Analyst Ratings Changes

NPWR has been the subject of a number of research reports. Wall Street Zen lowered shares of NET Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. Weiss Ratings downgraded shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. bought a new stake in NET Power in the second quarter worth $25,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of NET Power in the 4th quarter worth $25,000. Sei Investments Co. purchased a new position in shares of NET Power in the 2nd quarter worth $32,000. Quantbot Technologies LP bought a new position in shares of NET Power in the 3rd quarter valued at about $39,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of NET Power by 48.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock valued at $40,000 after acquiring an additional 5,255 shares during the last quarter. 53.62% of the stock is currently owned by institutional investors.

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.