8 Rivers Capital, Llc Sells 189,300 Shares of NET Power (NYSE:NPWR) Stock

Key Points

• 8 Rivers Capital, LLC sold 189,300 shares of NET Power stock at an average price of $3.53, totaling approximately $668,229, resulting in a 5.31% decrease in their ownership.
• NET Power's stock price experienced a downturn, trading at $3.36 with a 12-month range between $1.48 and $14.28.
• Analysts have given mixed ratings on NET Power, with classifications ranging from Strong Buy to Sell, and an average target price of $4.00.

NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 189,300 shares of the firm's stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $3.53, for a total transaction of $668,229.00. Following the sale, the insider owned 3,373,100 shares in the company, valued at approximately $11,907,043. This trade represents a 5.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

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

• On Wednesday, October 22nd, 8 Rivers Capital, Llc sold 89,000 shares of NET Power stock. The stock was sold at an average price of $3.31, for a total transaction of $294,590.00.
• On Monday, October 20th, 8 Rivers Capital, Llc sold 201,000 shares of NET Power stock. The stock was sold at an average price of $3.58, for a total transaction of $719,580.00.
• On Thursday, October 16th, 8 Rivers Capital, Llc sold 13,959 shares of NET Power stock. The shares were sold at an average price of $4.71, for a total transaction of $65,746.89.
• On Wednesday, October 15th, 8 Rivers Capital, Llc sold 222,641 shares of NET Power stock. The shares were sold at an average price of $4.86, for a total transaction of $1,082,035.26.

NET Power Stock Performance

Shares of NPWR traded down $0.17 during trading hours on Wednesday, hitting $3.36. The stock had a trading volume of 1,445,896 shares, compared to its average volume of 2,259,812. NET Power Inc. has a 12-month low of $1.48 and a 12-month high of $14.28. The firm has a market cap of $735.48 million, a P/E ratio of -1.42 and a beta of 0.75. The company's fifty day simple moving average is $2.91 and its 200 day simple moving average is $2.54.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On NET Power

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position 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 worth $40,000 after purchasing an additional 5,255 shares during the last quarter. Deutsche Bank AG increased its position in shares of NET Power by 63.0% in the 1st quarter. Deutsche Bank AG now owns 14,051 shares of the company's stock worth $37,000 after purchasing an additional 5,429 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of NET Power by 44.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company's stock worth $46,000 after purchasing an additional 5,739 shares during the last quarter. Engineers Gate Manager LP increased its position in shares of NET Power by 17.8% in the 2nd quarter. Engineers Gate Manager LP now owns 46,433 shares of the company's stock worth $115,000 after purchasing an additional 7,002 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of NET Power in the 2nd quarter worth about $25,000. Hedge funds and other institutional investors own 53.62% of the company's stock.

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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