8 Rivers Capital, Llc Sells 35,000 Shares of NET Power (NYSE:NPWR) Stock

Key Points

• 8 Rivers Capital, LLC sold 35,000 NET Power shares on May 13 at an average price of $2.43, trimming its ownership by 1.17% to 2,965,000 shares. The filing follows several other recent insider sales by the major shareholder.
• NET Power shares fell 8.1% to $2.22 in Thursday trading, with volume slightly above average. The stock remains well below its 52-week high of $5.20 and has a market cap of about $497 million.
• Recent earnings missed expectations, as NET Power reported a quarterly loss of $0.12 per share versus analysts’ estimate of a $0.07 loss. Analysts currently have a consensus Hold rating with a $3.50 target price.

NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 35,000 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $2.43, for a total transaction of $85,050.00. Following the sale, the insider directly owned 2,965,000 shares of the company's stock, valued at approximately $7,204,950. This represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own more than 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 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.
• On Tuesday, March 3rd, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.04, for a total transaction of $204,000.00.
• On Monday, March 2nd, 8 Rivers Capital, Llc sold 79,858 shares of NET Power stock. The shares were sold at an average price of $2.05, for a total transaction of $163,708.90.
• On Friday, February 27th, 8 Rivers Capital, Llc sold 4,744 shares of NET Power stock. The shares were sold at an average price of $2.00, for a total value of $9,488.00.
• On Thursday, February 26th, 8 Rivers Capital, Llc sold 1,881 shares of NET Power stock. The stock was sold at an average price of $2.00, for a total value of $3,762.00.
• On Friday, February 20th, 8 Rivers Capital, Llc sold 63,517 shares of NET Power stock. The shares were sold at an average price of $2.03, for a total value of $128,939.51.
• On Thursday, February 19th, 8 Rivers Capital, Llc sold 125,000 shares of NET Power stock. The shares were sold at an average price of $2.14, for a total value of $267,500.00.
• On Wednesday, February 18th, 8 Rivers Capital, Llc sold 75,000 shares of NET Power stock. The stock was sold at an average price of $2.07, for a total value of $155,250.00.
• On Friday, February 13th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.14, for a total value of $214,000.00.

NET Power Stock Down 8.1%

Shares of NPWR stock traded down $0.20 during trading hours on Thursday, reaching $2.22. 836,612 shares of the company's stock were exchanged, compared to its average volume of 806,063. NET Power Inc. has a fifty-two week low of $1.46 and a fifty-two week high of $5.20. The stock has a market capitalization of $497.08 million, a P/E ratio of -0.38 and a beta of 1.03. The business has a fifty day moving average price of $1.77 and a 200-day moving average price of $2.32.

NET Power (NYSE:NPWR - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.05).

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in NET Power by 21.4% in the second 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 during the period. JPMorgan Chase & Co. increased its holdings in NET Power by 48.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company's stock valued at $40,000 after buying an additional 5,255 shares during the period. Invesco Ltd. acquired a new position in shares of NET Power in the 2nd quarter valued at $25,000. Federated Hermes Inc. bought a new position in shares of NET Power during the 2nd quarter worth about $151,000. Finally, Sei Investments Co. bought a new position in shares of NET Power during the 2nd quarter worth about $32,000. 53.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of NET Power from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, NET Power presently has a consensus rating of "Hold" and a consensus 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.

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