Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells 50,000 Shares

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $1.63, for a total transaction of $81,500.00. Following the sale, the insider directly owned 1,950,000 shares in the company, valued at approximately $3,178,500. The trade was a 2.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, August 14th, 8 Rivers Capital, Llc sold 507,100 shares of NET Power stock. The shares were sold at an average price of $1.95, for a total transaction of $988,845.00.
• On Thursday, August 13th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The shares were sold at an average price of $1.62, for a total transaction of $324,000.00.
• On Tuesday, August 11th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The shares were sold at an average price of $1.60, for a total transaction of $56,000.00.
• On Monday, August 10th, 8 Rivers Capital, Llc sold 55,400 shares of NET Power stock. The shares were sold at an average price of $1.55, for a total transaction of $85,870.00.
• On Friday, August 7th, 8 Rivers Capital, Llc sold 60,345 shares of NET Power stock. The stock was sold at an average price of $1.53, for a total value of $92,327.85.
• On Thursday, August 6th, 8 Rivers Capital, Llc sold 89,255 shares of NET Power stock. The shares were sold at an average price of $1.51, for a total value of $134,775.05.
• On Wednesday, August 5th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The shares were sold at an average price of $1.51, for a total value of $211,400.00.
• On Tuesday, August 4th, 8 Rivers Capital, Llc sold 120,000 shares of NET Power stock. The stock was sold at an average price of $1.54, for a total value of $184,800.00.
• 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 value of $221,650.00.
• On Wednesday, July 29th, 8 Rivers Capital, Llc sold 45,000 shares of NET Power stock. The shares were sold at an average price of $1.41, for a total value of $63,450.00.

NET Power Price Performance

Shares of NPWR stock traded up $0.33 during trading hours on Friday, hitting $1.95. The stock had a trading volume of 4,030,101 shares, compared to its average volume of 800,524. The firm has a market capitalization of $436.50 million, a PE ratio of -0.33 and a beta of 1.07. NET Power Inc. has a twelve month low of $1.35 and a twelve month high of $5.20. The stock’s 50 day moving average is $1.60 and its 200 day moving average is $1.80.

NET Power (NYSE:NPWR) last announced its earnings results on Thursday, August 13th. The company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.84).

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wall Street Zen lowered shares of NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Weiss Ratings upgraded shares of NET Power from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, NET Power currently has an average rating of “Hold” and an average target price of $3.50.

Institutional Investors Weigh In On NET Power

Large investors have recently modified their holdings of the stock. CenterBook Partners LP lifted its holdings in shares of NET Power by 48.0% during the fourth quarter. CenterBook Partners LP now owns 1,848,073 shares of the company’s stock worth $4,214,000 after purchasing an additional 599,725 shares during the period. Integrity Alliance LLC. purchased a new position in NET Power in the 4th quarter valued at $40,000. Bank of America Corp DE increased its stake in NET Power by 40.1% in the 1st quarter. Bank of America Corp DE now owns 35,083 shares of the company’s stock valued at $55,000 after buying an additional 10,034 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in NET Power in the 4th quarter valued at $25,000. Finally, Quantbot Technologies LP acquired a new position in NET Power in the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 53.62% of the company’s stock.

NET Power Company Profile

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.