Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells $184,800.00 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 120,000 shares of NET Power stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $1.54, for a total value of $184,800.00. Following the completion of the sale, the insider directly owned 2,380,000 shares of the company’s stock, valued at approximately $3,665,200. This trade represents a 4.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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 transaction of $211,400.00.
• 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 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 Tuesday, July 28th, 8 Rivers Capital, Llc sold 55,858 shares of NET Power stock. The stock was 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 1.7%

Shares of NPWR stock opened at $1.52 on Friday. The stock has a market capitalization of $342.23 million, a P/E ratio of -0.26 and a beta of 1.07. The firm’s 50 day moving average is $1.63 and its 200 day moving average is $1.83. NET Power Inc. has a 12 month low of $1.35 and a 12 month high of $5.20.

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

Institutional Investors Weigh In On NET Power

Several large investors have recently added to or reduced their stakes in NPWR. Bank of New York Mellon Corp bought a new position in NET Power in the 2nd quarter worth about $140,000. Bank of America Corp DE raised its holdings in shares of 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 acquiring an additional 10,034 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of 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 during the last quarter. Summit Securities Group LLC bought a new stake in shares of NET Power during the 1st quarter valued at about $30,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of NET Power by 10.2% during the first quarter. Janney Montgomery Scott LLC now owns 133,000 shares of the company’s stock worth $207,000 after purchasing an additional 12,351 shares in the last quarter. Institutional investors own 53.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NPWR. Weiss Ratings downgraded shares of NET Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 27th. Wall Street Zen cut shares of NET Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, NET Power currently has an average rating of “Hold” and an average target price of $3.50.

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.