Insider Selling: NET Power (NYSE:NPWR) Major Shareholder Sells 89,000 Shares of Stock

Key Points

• 8 Rivers Capital, LLC, a major shareholder of NET Power, sold **89,000 shares** on October 22nd for approximately **$294,590**, reducing their ownership by **2.64%**.
• NET Power's stock is currently trading at **$3.36**, with a **12-month high of $14.28** and a **12-month low of $1.48**.
• Wall Street's consensus rating for NET Power is a **"Hold"**, with analysts setting an average price target of **$4.00**.

NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 89,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $3.31, for a total transaction of $294,590.00. Following the sale, the insider directly owned 3,284,100 shares in the company, valued at $10,870,371. The trade was a 2.64% 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, 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 transaction of $668,229.00.
• On Monday, October 20th, 8 Rivers Capital, Llc sold 201,000 shares of NET Power stock. The shares were sold at an average price of $3.58, for a total value of $719,580.00.
• 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 transaction 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 Stock Performance

Shares of NYSE NPWR traded down $0.17 during trading on Wednesday, hitting $3.36. 1,445,896 shares of the company were exchanged, compared to its average volume of 2,259,812. NET Power Inc. has a 12-month low of $1.48 and a 12-month high of $14.28. The company has a fifty day moving average price of $2.91 and a 200-day moving average price of $2.54. The firm has a market capitalization of $735.48 million, a PE ratio of -1.42 and a beta of 0.75.

NET Power (NYSE:NPWR - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.24). Research analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On NET Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new stake in shares of NET Power during the second quarter worth approximately $25,000. Invesco Ltd. purchased a new stake in shares of NET Power during the 2nd quarter worth $25,000. Sei Investments Co. purchased a new position in shares of NET Power in the second quarter valued at $32,000. Deutsche Bank AG increased its position in shares of NET Power by 63.0% in the first quarter. Deutsche Bank AG now owns 14,051 shares of the company's stock valued at $37,000 after buying an additional 5,429 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of NET Power by 48.7% during the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company's stock valued at $40,000 after acquiring an additional 5,255 shares during the last quarter. Hedge funds and other institutional investors own 53.62% of the company's stock.

NET Power Company Profile

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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