NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 400,000 Shares

Key Points

• 8 Rivers Capital, NET Power’s major shareholder, sold 400,000 shares on May 12 at an average price of $2.44, for about $976,000. The sale reduced its ownership by 11.76%, and the firm also disclosed several other recent share sales.
• NET Power shares fell 8.1% to $2.22 in Thursday trading, with volume slightly above average. The stock remains well below its 52-week high of $5.20.
• The company reported a quarterly loss of $0.12 per share, missing analyst expectations of a $0.07 loss. Analyst sentiment remains mixed, with a consensus rating of Hold and a target price of $3.50.

NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 400,000 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $2.44, for a total value of $976,000.00. Following the sale, the insider owned 3,000,000 shares of the company's stock, valued at approximately $7,320,000. This represents a 11.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

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

• 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.
• On Tuesday, March 3rd, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.04, for a total value of $204,000.00.
• On Monday, March 2nd, 8 Rivers Capital, Llc sold 79,858 shares of NET Power stock. The stock was sold at an average price of $2.05, for a total transaction of $163,708.90.
• On Friday, February 27th, 8 Rivers Capital, Llc sold 4,744 shares of NET Power stock. The stock was sold at an average price of $2.00, for a total transaction of $9,488.00.
• On Thursday, February 26th, 8 Rivers Capital, Llc sold 1,881 shares of NET Power stock. The shares were sold at an average price of $2.00, for a total transaction of $3,762.00.
• On Friday, February 20th, 8 Rivers Capital, Llc sold 63,517 shares of NET Power stock. The stock was sold at an average price of $2.03, for a total transaction of $128,939.51.
• On Thursday, February 19th, 8 Rivers Capital, Llc sold 125,000 shares of NET Power stock. The shares were sold at an average price of $2.14, for a total transaction of $267,500.00.
• On Wednesday, February 18th, 8 Rivers Capital, Llc sold 75,000 shares of NET Power stock. The shares were sold at an average price of $2.07, for a total transaction of $155,250.00.
• On Friday, February 13th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.14, for a total transaction of $214,000.00.

NET Power Stock Down 8.1%

Shares of NYSE NPWR traded down $0.20 during midday trading on Thursday, reaching $2.22. 836,612 shares of the company were exchanged, compared to its average volume of 806,063. The stock's 50-day moving average price is $1.77 and its 200-day moving average price is $2.32. The stock has a market cap of $497.08 million, a P/E ratio of -0.38 and a beta of 1.03. NET Power Inc. has a one year low of $1.46 and a one year high of $5.20.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded NET Power from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday. One 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, the company has a consensus rating of "Hold" and a consensus target price of $3.50.

Hedge Funds Weigh In On NET Power

Several large investors have recently modified their holdings of the business. Summit Securities Group LLC acquired a new position in shares of NET Power during the first quarter worth $30,000. Janney Montgomery Scott LLC increased its holdings in NET Power by 10.2% in the first quarter. Janney Montgomery Scott LLC now owns 133,000 shares of the company's stock valued at $207,000 after purchasing an additional 12,351 shares during the period. Empowered Funds LLC raised its position in NET Power by 99.3% during the 4th quarter. Empowered Funds LLC now owns 444,734 shares of the company's stock worth $1,014,000 after purchasing an additional 221,530 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in NET Power during the 4th quarter worth $194,000. Finally, Polymer Capital Management US LLC acquired a new position in NET Power during the 4th quarter worth about $96,000. Institutional investors own 53.62% of the company's stock.

NET Power Company Profile

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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