8 Rivers Capital, Llc Sells 13,959 Shares of NET Power (NYSE:NPWR) Stock

Key Points

• 8 Rivers Capital, LLC sold 13,959 shares of NET Power stock on October 16th for approximately $65,746, decreasing their ownership by 0.37% to 3,763,400 shares valued at around $17.7 million.
• The shares of NET Power traded down 16.3% on Thursday, reaching a price of $4.06, with analysts expecting a loss of -$0.40 earnings per share for the current fiscal year.
• Institutional investors and hedge funds currently own 53.62% of NET Power's stock, with several firms recently acquiring new positions in the company.

NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 13,959 shares of the stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $4.71, for a total transaction of $65,746.89. Following the transaction, the insider owned 3,763,400 shares of the company's stock, valued at approximately $17,725,614. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% 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 Wednesday, October 15th, 8 Rivers Capital, Llc sold 222,641 shares of NET Power stock. The stock was sold at an average price of $4.86, for a total transaction of $1,082,035.26.

NET Power Trading Down 16.3%

Shares of NET Power stock traded down $0.79 during trading hours on Thursday, reaching $4.06. 2,360,897 shares of the company's stock were exchanged, compared to its average volume of 2,217,555. The company has a 50 day moving average of $2.85 and a two-hundred day moving average of $2.51. NET Power Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $14.28. The stock has a market cap of $890.03 million, a P/E ratio of -1.72 and a beta of 0.75.

NET Power (NYSE:NPWR - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.24). As a group, analysts expect that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NET Power

Several institutional investors and hedge funds have recently made changes to their positions in NPWR. Janney Montgomery Scott LLC acquired a new position in shares of NET Power in the second quarter valued at approximately $25,000. Invesco Ltd. acquired a new position in shares of NET Power in the second quarter valued at approximately $25,000. Sei Investments Co. acquired a new position in shares of NET Power in the second quarter valued at approximately $32,000. Deutsche Bank AG grew its position in shares of NET Power by 63.0% in the first quarter. Deutsche Bank AG now owns 14,051 shares of the company's stock valued at $37,000 after purchasing an additional 5,429 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of NET Power by 48.7% in 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 during the last quarter. Institutional investors and hedge funds own 53.62% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of NET Power in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $4.00.

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.

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