8 Rivers Capital, Llc Sells 507,100 Shares of NET Power (NYSE:NPWR) Stock

Key Points

• 8 Rivers Capital sold 507,100 NET Power shares at an average price of $1.95, generating $988,845 and reducing its ownership by 28.98% to 1,242,900 shares.
• The sale followed a series of additional disposals totaling more than 950,000 shares since late July, while NET Power stock rose to $1.95 in Friday trading—still well below its 52-week high of $5.20.
• NET Power reported a quarterly loss of $0.91 per share, missing the $0.07 consensus estimate; analysts hold 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 507,100 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $1.95, for a total transaction of $988,845.00. Following the completion of the sale, the insider owned 1,242,900 shares of the company's stock, valued at $2,423,655. This trade represents a 28.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 13th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The stock was sold at an average price of $1.62, for a total value of $324,000.00.
• On Wednesday, August 12th, 8 Rivers Capital, Llc sold 50,000 shares of NET Power stock. The stock was sold at an average price of $1.63, for a total value of $81,500.00.
• On Tuesday, August 11th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The shares were sold at an average price of $1.60, for a total value of $56,000.00.
• On Monday, August 10th, 8 Rivers Capital, Llc sold 55,400 shares of NET Power stock. The shares were sold at an average price of $1.55, for a total value of $85,870.00.
• On Friday, August 7th, 8 Rivers Capital, Llc sold 60,345 shares of NET Power stock. The shares were sold at an average price of $1.53, for a total value of $92,327.85.
• 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 stock was sold at an average price of $1.51, for a total value of $211,400.00.
• On Tuesday, August 4th, 8 Rivers Capital, Llc sold 120,000 shares of NET Power stock. The stock was sold at an average price of $1.54, for a total value of $184,800.00.
• 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 value of $63,450.00.

NET Power Price Performance

NET Power stock traded up $0.33 during mid-day trading on Friday, hitting $1.95. 4,030,101 shares of the company's stock traded hands, compared to its average volume of 800,524. The firm has a 50 day simple moving average of $1.60 and a two-hundred day simple moving average of $1.80. NET Power Inc. has a fifty-two week low of $1.35 and a fifty-two week high of $5.20. The stock has a market cap of $436.50 million, a price-to-earnings ratio of -0.33 and a beta of 1.07.

NET Power (NYSE:NPWR - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.84).

Hedge Funds Weigh In On NET Power

Hedge funds have recently bought and sold shares of the company. CenterBook Partners LP lifted its stake in NET Power by 48.0% during the fourth quarter. CenterBook Partners LP now owns 1,848,073 shares of the company's stock worth $4,214,000 after purchasing an additional 599,725 shares during the last quarter. Integrity Alliance LLC. bought a new position in shares of NET Power in the 4th quarter valued at $40,000. Bank of America Corp DE increased its stake 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 purchasing an additional 10,034 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of NET Power during the 4th quarter worth $25,000. Finally, Quantbot Technologies LP acquired a new position in shares of NET Power during the 3rd quarter worth $39,000. 53.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wall Street Zen cut NET Power from a "sell" rating to a "strong sell" rating in a report on Saturday, July 18th. Weiss Ratings upgraded NET Power from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday. One 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 a consensus 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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