NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 41,350 Shares

Key Points

• 8 Rivers Capital sold 41,350 NET Power shares at an average price of $1.91, generating $78,978.50. Following the transaction, it held 1 million shares, and the sale was part of a series of recent disposals.
• NET Power shares rose 5.2% to $1.91, but remain well below their 52-week high of $5.20. The company reported a quarterly loss of $0.91 per share, missing analyst expectations by $0.84.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $3.50 price target; institutional investors own 53.62% of the company.

NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 41,350 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1.91, for a total transaction of $78,978.50. Following the completion of the sale, the insider directly owned 1,000,000 shares in the company, valued at $1,910,000. This represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 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, 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 stock was 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 shares were 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 shares were 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 value of $85,870.00.
• On Friday, August 7th, 8 Rivers Capital, Llc sold 60,345 shares of NET Power stock. The stock was 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.
• 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 value 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 value of $184,800.00.

NET Power Trading Up 5.2%

NYSE:NPWR traded up $0.10 on Thursday, hitting $1.91. 947,602 shares of the stock were exchanged, compared to its average volume of 825,839. The stock has a market cap of $428.36 million, a PE ratio of -0.30 and a beta of 1.07. The stock has a fifty day moving average of $1.62 and a 200-day moving average of $1.77. NET Power Inc. has a fifty-two week low of $1.35 and a fifty-two week high of $5.20.

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 analysts' consensus estimates of ($0.07) by ($0.84).

Institutional Investors Weigh In On NET Power

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of NET Power by 21.4% in the second quarter. Geode Capital Management LLC now owns 841,060 shares of the company's stock valued at $2,078,000 after buying an additional 148,307 shares in the last quarter. JPMorgan Chase & Co. lifted its position in NET Power by 48.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company's stock worth $40,000 after acquiring an additional 5,255 shares in the last quarter. Invesco Ltd. purchased a new position in NET Power in the 2nd quarter worth approximately $25,000. Federated Hermes Inc. purchased a new position in NET Power in the 2nd quarter worth approximately $151,000. Finally, Sei Investments Co. acquired a new stake in NET Power in the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 53.62% of the company's stock.

Analyst Upgrades and Downgrades

NPWR has been the topic of a number of recent research reports. Weiss Ratings cut shares of NET Power from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday. Wall Street Zen lowered shares of NET Power from a "sell" rating to a "strong sell" rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Buy rating, one has issued 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 a consensus price target 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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