NET Power (NYSE:NPWR) Major Shareholder Sells $1,082,035.26 in Stock

Key Points

• 8 Rivers Capital, LLC, a major shareholder of NET Power, sold 222,641 shares at an average price of $4.86, totaling over $1 million, which reduced their ownership stake by 5.57%.
• NET Power's stock is currently trading at $4.06, down 16.3%, with a significant 52-week price range between $1.48 and $14.28.
• Despite recent insider sales, institutional investors and hedge funds own 53.62% of NET Power's stock, indicating substantial institutional interest.

NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 222,641 shares of the company's stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $4.86, for a total transaction of $1,082,035.26. Following the sale, the insider directly owned 3,777,359 shares of the company's stock, valued at $18,357,964.74. This represents a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 Thursday, October 16th, 8 Rivers Capital, Llc sold 13,959 shares of NET Power stock. The shares were sold at an average price of $4.71, for a total transaction of $65,746.89.

NET Power Trading Down 16.3%

NPWR stock traded down $0.79 during mid-day trading on Thursday, reaching $4.06. 2,360,897 shares of the stock traded hands, compared to its average volume of 2,217,555. NET Power Inc. has a 52-week low of $1.48 and a 52-week high of $14.28. The company has a market cap of $890.03 million, a P/E ratio of -1.72 and a beta of 0.75. The stock's fifty day moving average is $2.85 and its 200-day moving average is $2.51.

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

Hedge Funds Weigh In On NET Power

A number of hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in NET Power by 48.7% in the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company's stock worth $40,000 after buying an additional 5,255 shares during the last quarter. Deutsche Bank AG grew its holdings in NET Power by 63.0% during the first quarter. Deutsche Bank AG now owns 14,051 shares of the company's stock valued at $37,000 after purchasing an additional 5,429 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in NET Power by 44.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company's stock valued at $46,000 after purchasing an additional 5,739 shares during the last quarter. Engineers Gate Manager LP grew its holdings in NET Power by 17.8% during the second quarter. Engineers Gate Manager LP now owns 46,433 shares of the company's stock valued at $115,000 after purchasing an additional 7,002 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in NET Power during the second quarter valued at approximately $25,000. Institutional investors and hedge funds own 53.62% of the company's stock.

Wall Street Analysts Forecast Growth

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 assigned a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, NET Power has an average rating of "Hold" and a consensus price target of $4.00.

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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