NET Power Inc. (NYSE:NPWR) Major Shareholder Sells $5,499,674.84 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 431,009 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $12.76, for a total transaction of $5,499,674.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Large 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, November 20th, 8 Rivers Capital, Llc sold 320,371 shares of NET Power stock. The shares were sold at an average price of $12.60, for a total transaction of $4,036,674.60.
• On Wednesday, October 16th, 8 Rivers Capital, Llc sold 517,618 shares of NET Power stock. The stock was sold at an average price of $7.12, for a total transaction of $3,685,440.16.
• On Monday, October 7th, 8 Rivers Capital, Llc sold 8,871 shares of NET Power stock. The shares were sold at an average price of $7.01, for a total transaction of $62,185.71.
• On Thursday, October 3rd, 8 Rivers Capital, Llc sold 10,433 shares of NET Power stock. The shares were sold at an average price of $7.00, for a total transaction of $73,031.00.
• On Monday, September 30th, 8 Rivers Capital, Llc sold 46,585 shares of NET Power stock. The stock was sold at an average price of $7.07, for a total value of $329,355.95.
• On Monday, September 23rd, 8 Rivers Capital, Llc sold 1,764 shares of NET Power stock. The shares were sold at an average price of $7.00, for a total value of $12,348.00.
• On Friday, September 20th, 8 Rivers Capital, Llc sold 26,926 shares of NET Power stock. The stock was sold at an average price of $7.00, for a total value of $188,482.00.
• On Wednesday, September 18th, 8 Rivers Capital, Llc sold 80,122 shares of NET Power stock. The stock was sold at an average price of $7.02, for a total value of $562,456.44.

NET Power Stock Down 6.3 %

NPWR stock traded down $0.84 on Tuesday, hitting $12.45. 974,514 shares of the company’s stock were exchanged, compared to its average volume of 416,287. The firm has a 50 day moving average price of $8.80 and a two-hundred day moving average price of $9.18. NET Power Inc. has a 12-month low of $6.57 and a 12-month high of $14.28.

NET Power (NYSE:NPWR) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.17. During the same quarter last year, the business posted ($0.44) EPS. On average, research analysts expect that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

NPWR has been the topic of a number of recent research reports. Citigroup decreased their price objective on NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Barclays decreased their price target on NET Power from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 14th. Finally, US Capital Advisors raised shares of NET Power to a “strong-buy” rating in a research note on Monday, October 28th.

Hedge Funds Weigh In On NET Power

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in NET Power by 65.1% in the first quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock valued at $27,617,000 after buying an additional 956,134 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of NET Power during the 2nd quarter valued at approximately $20,537,000. SIR Capital Management L.P. acquired a new stake in NET Power in the 2nd quarter valued at $971,000. S&CO Inc. increased its holdings in NET Power by 25.3% in the 3rd quarter. S&CO Inc. now owns 251,905 shares of the company’s stock worth $1,765,000 after acquiring an additional 50,805 shares in the last quarter. Finally, Thomist Capital Management LP acquired a new position in NET Power during the second quarter worth $1,073,000. 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.