NET Power Inc. (NYSE:NPWR) Major Shareholder Sells $4,036,674.60 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 320,371 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $12.60, for a total transaction of $4,036,674.60. Following the sale, the insider now directly owns 940,049 shares of the company’s stock, valued at $11,844,617.40. This trade represents a 25.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, October 16th, 8 Rivers Capital, Llc sold 517,618 shares of NET Power stock. The shares were sold at an average price of $7.12, for a total value 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 value of $62,185.71.
• On Thursday, October 3rd, 8 Rivers Capital, Llc sold 10,433 shares of NET Power stock. The stock was sold at an average price of $7.00, for a total value of $73,031.00.
• On Monday, September 30th, 8 Rivers Capital, Llc sold 46,585 shares of NET Power stock. The shares were sold at an average price of $7.07, for a total transaction of $329,355.95.
• On Monday, September 23rd, 8 Rivers Capital, Llc sold 1,764 shares of NET Power stock. The stock was sold at an average price of $7.00, for a total transaction of $12,348.00.
• On Friday, September 20th, 8 Rivers Capital, Llc sold 26,926 shares of NET Power stock. The shares were sold at an average price of $7.00, for a total transaction 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 transaction of $562,456.44.

NET Power Trading Up 0.7 %

Shares of NET Power stock opened at $12.64 on Friday. NET Power Inc. has a 1-year low of $6.57 and a 1-year high of $14.28. The company’s fifty day simple moving average is $8.56 and its 200-day simple moving average is $9.18.

NET Power (NYSE:NPWR) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.17. During the same period in the prior year, the business posted ($0.44) EPS. As a group, research analysts predict that NET Power Inc. will post -0.4 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NPWR shares. Barclays lowered 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. Citigroup lowered their target price on NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, US Capital Advisors upgraded NET Power to a “strong-buy” rating in a research note on Monday, October 28th.

Institutional Investors Weigh In On NET Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NPWR. Barclays PLC lifted its holdings in NET Power by 276.7% during the third quarter. Barclays PLC now owns 27,883 shares of the company’s stock valued at $196,000 after purchasing an additional 20,481 shares in the last quarter. Geode Capital Management LLC raised its position in shares of NET Power by 21.7% during the 3rd quarter. Geode Capital Management LLC now owns 646,584 shares of the company’s stock valued at $4,535,000 after purchasing an additional 115,189 shares during the period. State Street Corp lifted its stake in shares of NET Power by 11.8% during the 3rd quarter. State Street Corp now owns 369,281 shares of the company’s stock valued at $2,589,000 after buying an additional 38,910 shares in the last quarter. HITE Hedge Asset Management LLC boosted its holdings in NET Power by 2.6% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 387,624 shares of the company’s stock worth $2,717,000 after buying an additional 9,987 shares during the period. Finally, MetLife Investment Management LLC increased its stake in NET Power by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock worth $91,000 after buying an additional 7,281 shares in the last quarter. 53.62% of the stock is owned by hedge funds and other institutional investors.

About NET Power

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.