Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells 201,000 Shares of Stock

Key Points

• 8 Rivers Capital, LLC, a major shareholder of NET Power, sold a total of 201,000 shares on October 20th at an average price of $3.58, reducing their ownership by 5.34%.
• NET Power's stock recently traded down to $3.36, with a market capitalization of $735.48 million and a significant P/E ratio of -1.42.
• The company reported a loss of ($0.36) earnings per share for the last quarter, missing consensus estimates and leading analysts to forecast a current fiscal year EPS of -0.4.

NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 201,000 shares of the business's stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $3.58, for a total value of $719,580.00. Following the completion of the transaction, the insider directly owned 3,562,400 shares of the company's stock, valued at approximately $12,753,392. The trade was a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more 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 Wednesday, October 22nd, 8 Rivers Capital, Llc sold 89,000 shares of NET Power stock. The stock was sold at an average price of $3.31, for a total value of $294,590.00.
• On Tuesday, October 21st, 8 Rivers Capital, Llc sold 189,300 shares of NET Power stock. The shares were sold at an average price of $3.53, for a total value of $668,229.00.
• On Thursday, October 16th, 8 Rivers Capital, Llc sold 13,959 shares of NET Power stock. The stock was sold at an average price of $4.71, for a total value of $65,746.89.
• On Wednesday, October 15th, 8 Rivers Capital, Llc sold 222,641 shares of NET Power stock. The stock was sold at an average price of $4.86, for a total value of $1,082,035.26.

NET Power Price Performance

NYSE:NPWR traded down $0.17 during trading hours on Wednesday, reaching $3.36. 1,445,896 shares of the company were exchanged, compared to its average volume of 2,259,812. The company has a market capitalization of $735.48 million, a P/E ratio of -1.42 and a beta of 0.75. NET Power Inc. has a 1-year low of $1.48 and a 1-year high of $14.28. The business has a 50 day moving average of $2.91 and a 200 day moving average of $2.54.

NET Power (NYSE:NPWR - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.24). As a group, equities research analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of NET Power in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $4.00.

Institutional Trading of NET Power

Several institutional investors and hedge funds have recently bought and sold shares of NPWR. Adage Capital Partners GP L.L.C. increased its position in shares of NET Power by 16.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company's stock valued at $7,015,000 after acquiring an additional 400,000 shares in the last quarter. CenterBook Partners LP lifted its stake in shares of NET Power by 1,655.5% during the 1st quarter. CenterBook Partners LP now owns 1,744,770 shares of the company's stock valued at $4,589,000 after buying an additional 1,645,380 shares in the last quarter. Geode Capital Management LLC lifted its stake in NET Power by 21.4% in the 2nd 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 in the last quarter. HITE Hedge Asset Management LLC increased its holdings in shares of NET Power by 80.6% in the 1st quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company's stock worth $1,955,000 after buying an additional 331,726 shares during the last quarter. Finally, Caption Management LLC grew its holdings in NET Power by 619.8% during the 2nd quarter. Caption Management LLC now owns 401,899 shares of the company's stock valued at $993,000 after purchasing an additional 346,068 shares during the last quarter. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

About NET Power

NET Power Inc operates as a clean energy technology company. The company invents, develops, and licenses clean power generation technology. NET Power Inc was founded in 2010 and is headquartered in Durham, North Carolina.

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