Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells 150,000 Shares

Key Points

• 8 Rivers Capital sold 150,000 NET Power shares at an average price of $1.84, generating $276,000. The sale reduced its direct ownership by 16.67% to 750,000 shares.
• The transaction follows a series of additional sales by 8 Rivers Capital since August, totaling more than 1.3 million shares, signaling sustained selling by a major shareholder.
• NET Power shares recently traded at $1.80, while the company reported a quarterly loss of $0.91 per share, far worse than the $0.07 consensus estimate. Analysts’ average rating is “Hold,” with a $3.50 price target.

NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 150,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $1.84, for a total transaction of $276,000.00. Following the sale, the insider directly owned 750,000 shares in the company, valued at $1,380,000. The trade was a 16.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major 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 Tuesday, September 8th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $1.94, for a total transaction of $194,000.00.
• On Wednesday, August 26th, 8 Rivers Capital, Llc sold 41,350 shares of NET Power stock. The shares were sold at an average price of $1.91, for a total transaction of $78,978.50.
• On Tuesday, August 25th, 8 Rivers Capital, Llc sold 201,550 shares of NET Power stock. The stock was sold at an average price of $1.91, for a total transaction of $384,960.50.
• On Friday, August 14th, 8 Rivers Capital, Llc sold 507,100 shares of NET Power stock. The shares were sold at an average price of $1.95, for a total transaction of $988,845.00.
• On Thursday, August 13th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The shares were sold at an average price of $1.62, for a total transaction 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 transaction of $81,500.00.
• 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 transaction of $56,000.00.
• On Monday, August 10th, 8 Rivers Capital, Llc sold 55,400 shares of NET Power stock. The stock was sold at an average price of $1.55, for a total transaction 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 shares were sold at an average price of $1.51, for a total value of $134,775.05.

NET Power Price Performance

NYSE NPWR traded down $0.04 during trading hours on Thursday, reaching $1.80. The company's stock had a trading volume of 389,056 shares, compared to its average volume of 816,415. The firm has a market capitalization of $405.87 million, a price-to-earnings ratio of -0.28 and a beta of 1.10. The company's 50-day moving average is $1.65 and its two-hundred day moving average is $1.75. NET Power Inc. has a 1-year low of $1.35 and a 1-year high of $5.20.

NET Power (NYSE:NPWR - Get Free Report) last issued 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).

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NPWR shares. Weiss Ratings upgraded shares of NET Power from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday. 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. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $3.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NPWR. Tidal Investments LLC boosted its stake in NET Power by 190.0% during the 2nd quarter. Tidal Investments LLC now owns 1,546,562 shares of the company's stock worth $2,583,000 after purchasing an additional 1,013,309 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of NET Power by 644.0% in the first quarter. Renaissance Technologies LLC now owns 703,800 shares of the company's stock valued at $1,098,000 after buying an additional 609,200 shares during the last quarter. CenterBook Partners LP lifted its stake in shares of NET Power by 48.0% in the fourth quarter. CenterBook Partners LP now owns 1,848,073 shares of the company's stock worth $4,214,000 after buying an additional 599,725 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of NET Power by 16.4% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company's stock worth $7,015,000 after buying an additional 400,000 shares in the last quarter. Finally, Caption Management LLC boosted its position in NET Power by 619.8% during the second quarter. Caption Management LLC now owns 401,899 shares of the company's stock worth $993,000 after acquiring an additional 346,068 shares during the last quarter. Hedge funds and other institutional investors own 53.62% of the company's stock.

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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