8 Rivers Capital, Llc Sells 120,000 Shares of NET Power (NYSE:NPWR) Stock

Key Points

• 8 Rivers Capital sold 120,000 NET Power shares at an average of $1.54, generating $184,800 and reducing its direct stake by 4.8% to 2.38 million shares. The investor has also made several other sales recently.
• NET Power shares fell 1.6% to $1.50, near the lower end of their 52-week range of $1.35 to $5.20. The company reported a quarterly loss of $0.12 per share, missing the $0.07 consensus estimate.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $3.50 average price target, while institutional investors own 53.62% of the stock.

NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 120,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $1.54, for a total value of $184,800.00. Following the completion of the transaction, the insider directly owned 2,380,000 shares in the company, valued at approximately $3,665,200. This represents a 4.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 stock was 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 Thursday, July 30th, 8 Rivers Capital, Llc sold 155,000 shares of NET Power stock. The shares were 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 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 stock was 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 stock was sold at an average price of $2.44, for a total transaction of $976,000.00.

NET Power Trading Down 1.6%

NYSE NPWR traded down $0.03 during trading hours on Thursday, hitting $1.50. 458,581 shares of the company's stock traded hands, compared to its average volume of 788,476. The business's fifty day moving average price is $1.65 and its two-hundred day moving average price is $1.84. The firm has a market capitalization of $335.50 million, a P/E ratio of -0.25 and a beta of 1.07. NET Power Inc. has a 52 week low of $1.35 and a 52 week high of $5.20.

NET Power (NYSE:NPWR - Get Free Report) last announced its 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).

Institutional Trading of NET Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in NET Power by 21.4% in the 2nd quarter. Geode Capital Management LLC now owns 841,060 shares of the company's stock worth $2,078,000 after purchasing an additional 148,307 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of 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. Invesco Ltd. bought a new stake in shares of NET Power in the second quarter worth about $25,000. Federated Hermes Inc. purchased a new stake in shares of NET Power in the second quarter worth about $151,000. Finally, Sei Investments Co. purchased a new stake in shares of NET Power in the second quarter worth about $32,000. 53.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wall Street Zen lowered NET Power from a "sell" rating to a "strong sell" rating in a research note on Saturday, July 18th. Weiss Ratings downgraded NET Power from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, NET Power has a consensus rating of "Hold" and an average target price of $3.50.

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.

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