8 Rivers Capital, Llc Sells 130,000 Shares of NET Power (NYSE:NPWR) Stock

by · The Markets Daily

NET Power Inc. (NYSE:NPWR – Get Free Report) major shareholder 8 Rivers Capital, Llc sold 130,000 shares of NET Power stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $2.17, for a total value of $282,100.00. Following the transaction, the insider directly owned 2,220,000 shares in the company, valued at approximately $4,817,400. The trade was a 5.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more 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 Monday, December 22nd, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.26, for a total value of $226,000.00.
  • On Friday, December 19th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.34, for a total value of $234,000.00.
  • On Tuesday, December 9th, 8 Rivers Capital, Llc sold 40,000 shares of NET Power stock. The stock was sold at an average price of $2.82, for a total transaction of $112,800.00.
  • On Monday, December 8th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The shares were sold at an average price of $2.81, for a total transaction of $393,400.00.
  • On Friday, December 5th, 8 Rivers Capital, Llc sold 105,000 shares of NET Power stock. The shares were sold at an average price of $2.91, for a total transaction of $305,550.00.
  • On Thursday, December 4th, 8 Rivers Capital, Llc sold 65,000 shares of NET Power stock. The stock was sold at an average price of $2.94, for a total transaction of $191,100.00.
  • On Friday, November 28th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The stock was sold at an average price of $2.94, for a total transaction of $588,000.00.
  • On Friday, November 21st, 8 Rivers Capital, Llc sold 17,163 shares of NET Power stock. The shares were sold at an average price of $2.50, for a total transaction of $42,907.50.
  • On Thursday, November 20th, 8 Rivers Capital, Llc sold 132,837 shares of NET Power stock. The stock was sold at an average price of $2.60, for a total value of $345,376.20.
  • On Wednesday, November 19th, 8 Rivers Capital, Llc sold 250,000 shares of NET Power stock. The shares were sold at an average price of $2.57, for a total value of $642,500.00.

NET Power Trading Down 1.9%

Shares of NPWR traded down $0.04 on Tuesday, reaching $2.17. 1,293,368 shares of the company’s stock traded hands, compared to its average volume of 1,416,357. The stock has a market cap of $481.60 million, a PE ratio of -0.28 and a beta of 0.80. The stock’s 50 day simple moving average is $3.12 and its two-hundred day simple moving average is $2.87. NET Power Inc. has a 52-week low of $1.48 and a 52-week high of $11.83.

NET Power (NYSE:NPWR – Get Free Report) last posted its quarterly earnings data on Thursday, November 13th. The company reported $5.84 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $6.00. Analysts forecast that NET Power Inc. will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NPWR. Worth Venture Partners LLC purchased a new stake in shares of NET Power during the third quarter worth $209,000. Sig Brokerage LP grew its position in shares of NET Power by 50.3% in the third quarter. Sig Brokerage LP now owns 24,298 shares of the company’s stock valued at $73,000 after purchasing an additional 8,130 shares in the last quarter. Bank of America Corp DE raised its stake in shares of NET Power by 555.0% during the 3rd quarter. Bank of America Corp DE now owns 153,294 shares of the company’s stock valued at $461,000 after purchasing an additional 129,889 shares during the period. Alliancebernstein L.P. raised its stake in shares of NET Power by 11.1% during the 3rd quarter. Alliancebernstein L.P. now owns 101,680 shares of the company’s stock valued at $306,000 after purchasing an additional 10,200 shares during the period. Finally, Brooklyn Investment Group lifted its holdings in NET Power by 2,113.1% during the 3rd quarter. Brooklyn Investment Group now owns 27,000 shares of the company’s stock worth $81,000 after purchasing an additional 25,780 shares in the last quarter. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays upgraded shares of NET Power from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $2.00 to $3.00 in a research note on Friday, November 14th. Citigroup reduced their price objective on NET Power from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NET Power in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.50.

Get Our Latest Report on NET Power

NET Power Company Profile

(Get Free Report)

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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