NET Power (NYSE:NPWR) Major Shareholder Sells $221,650.00 in Stock

Key Points

• 8 Rivers Capital sold 155,000 NET Power shares at an average price of $1.43, generating $221,650 and reducing its stake by 5.84% to 2.5 million shares. The transaction follows several other sales by the major shareholder.
• NET Power shares rose 8.5% to $1.48 during Thursday trading, but remain near their 52-week low of $1.35 and well below the 52-week high of $5.20.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $3.50; the company also reported a quarterly loss of $0.12 per share, missing estimates by $0.05.

NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 155,000 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $1.43, for a total transaction of $221,650.00. Following the sale, the insider owned 2,500,000 shares in the company, valued at approximately $3,575,000. This trade represents a 5.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large 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 Wednesday, July 29th, 8 Rivers Capital, Llc sold 45,000 shares of NET Power stock. The stock was sold at an average price of $1.41, for a total value of $63,450.00.
• On Tuesday, July 28th, 8 Rivers Capital, Llc sold 55,858 shares of NET Power stock. The shares were sold at an average price of $1.47, for a total value of $82,111.26.
• On Wednesday, May 13th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The stock was sold at an average price of $2.43, for a total value of $85,050.00.
• On Tuesday, May 12th, 8 Rivers Capital, Llc sold 400,000 shares of NET Power stock. The stock was sold at an average price of $2.44, for a total value of $976,000.00.

NET Power Trading Up 8.5%

Shares of NPWR traded up $0.12 during mid-day trading on Thursday, reaching $1.48. The company had a trading volume of 731,040 shares, compared to its average volume of 800,047. The stock has a market cap of $331.02 million, a price-to-earnings ratio of -0.25 and a beta of 1.06. The firm has a fifty day simple moving average of $1.70 and a 200-day simple moving average of $1.89. 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 issued its earnings results on Monday, May 11th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.05).

Institutional Investors Weigh In On NET Power

A number of hedge funds have recently bought and sold shares of NPWR. Bank of America Corp DE increased its holdings in NET Power by 40.1% during the 1st quarter. Bank of America Corp DE now owns 35,083 shares of the company's stock worth $55,000 after purchasing an additional 10,034 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of NET Power by 644.0% during the 1st quarter. Renaissance Technologies LLC now owns 703,800 shares of the company's stock valued at $1,098,000 after buying an additional 609,200 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of NET Power during the first quarter worth approximately $30,000. Janney Montgomery Scott LLC increased its stake in shares of NET Power by 10.2% in the first quarter. Janney Montgomery Scott LLC now owns 133,000 shares of the company's stock worth $207,000 after buying an additional 12,351 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in NET Power by 99.3% in the fourth quarter. Empowered Funds LLC now owns 444,734 shares of the company's stock valued at $1,014,000 after acquiring an additional 221,530 shares in the last quarter. Institutional investors and hedge funds own 53.62% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on NPWR shares. Wall Street Zen downgraded shares of NET Power from a "sell" rating to a "strong sell" rating in a research note on Saturday, July 18th. Weiss Ratings cut NET Power from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, May 27th. 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. According to data from MarketBeat, NET Power has a consensus rating of "Hold" and an average 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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