8 Rivers Capital, Llc Sells 60,345 Shares of NET Power (NYSE:NPWR) Stock

Key Points

• 8 Rivers Capital sold 60,345 NET Power shares at an average price of $1.53, reducing its position by 2.81% to 2.09 million shares. The sale was part of a series of recent transactions by the major shareholder.
• NET Power shares rose 2.9% to $1.61, but remain well below their 52-week high of $5.20. The company reported a quarterly loss of $0.12 per share, missing the $0.07 consensus estimate.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $3.50; some ratings were recently downgraded. Institutional investors own 53.62% of the company.

NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 60,345 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $1.53, for a total value of $92,327.85. Following the transaction, the insider directly owned 2,090,400 shares of the company's stock, valued at $3,198,312. The trade was a 2.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Tuesday, August 11th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The stock was 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 transaction of $85,870.00.
• 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 transaction 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 transaction of $211,400.00.
• On Tuesday, August 4th, 8 Rivers Capital, Llc sold 120,000 shares of NET Power stock. The shares were sold at an average price of $1.54, for a total transaction 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 transaction of $221,650.00.
• On Wednesday, July 29th, 8 Rivers Capital, Llc sold 45,000 shares of NET Power stock. The stock was 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 shares were sold at an average price of $2.43, for a total value of $85,050.00.

NET Power Trading Up 2.9%

Shares of NET Power stock traded up $0.04 during trading hours on Tuesday, reaching $1.61. 410,855 shares of the company's stock were exchanged, compared to its average volume of 780,263. NET Power Inc. has a 52-week low of $1.35 and a 52-week high of $5.20. The company has a fifty day moving average of $1.62 and a 200-day moving average of $1.82. The firm has a market capitalization of $362.44 million, a price-to-earnings ratio of -0.27 and a beta of 1.07.

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

Institutional Investors Weigh In On NET Power

Several institutional investors and hedge funds have recently modified their holdings of NPWR. Invesco Ltd. acquired a new position in shares of NET Power during the second quarter worth $25,000. Schonfeld Strategic Advisors LLC purchased a new stake in NET Power during the 4th quarter worth approximately $25,000. Sei Investments Co. acquired a new position in shares of NET Power in the 2nd quarter valued at approximately $32,000. Quantbot Technologies LP acquired a new stake in shares of NET Power during the third quarter worth approximately $39,000. Finally, JPMorgan Chase & Co. increased its stake 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 worth $40,000 after buying an additional 5,255 shares during the last quarter. Hedge funds and other institutional investors own 53.62% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on NPWR shares. Wall Street Zen cut shares of NET Power from a "sell" rating to a "strong sell" rating in a research note on Saturday, July 18th. Weiss Ratings cut NET Power from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 27th. One 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. Based on data from MarketBeat, NET Power presently 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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