NET Power Inc. (NYSE:NPWR) Major Shareholder Sells $188,482.00 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 26,926 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $7.00, for a total value of $188,482.00. Following the sale, the insider now owns 73,074 shares of the company’s stock, valued at $511,518. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 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 value of $12,348.00.
• On Wednesday, September 18th, 8 Rivers Capital, Llc sold 80,122 shares of NET Power stock. The shares were sold at an average price of $7.02, for a total value of $562,456.44.

NET Power Stock Up 5.1 %

Shares of NYSE NPWR traded up $0.35 during midday trading on Tuesday, reaching $7.15. 377,127 shares of the stock were exchanged, compared to its average volume of 359,152. NET Power Inc. has a twelve month low of $6.57 and a twelve month high of $15.87. The company has a 50 day simple moving average of $8.35 and a 200 day simple moving average of $9.67.

NET Power (NYSE:NPWR) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.06) EPS for the quarter. The firm had revenue of $0.24 million for the quarter. On average, equities research analysts predict that NET Power Inc. will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On NET Power

A number of hedge funds have recently added to or reduced their stakes in NPWR. B. Riley Wealth Advisors Inc. purchased a new stake in shares of NET Power in the 2nd quarter valued at approximately $136,000. Encompass Capital Advisors LLC purchased a new position in NET Power during the 2nd quarter worth $20,537,000. ELCO Management Co. LLC increased its position in NET Power by 13.4% in the 2nd quarter. ELCO Management Co. LLC now owns 20,924 shares of the company’s stock valued at $206,000 after acquiring an additional 2,474 shares during the period. Squarepoint Ops LLC purchased a new stake in NET Power during the 2nd quarter valued at approximately $470,000. Finally, K2 Principal Fund L.P. lifted its position in NET Power by 153.9% during the 2nd quarter. K2 Principal Fund L.P. now owns 33,037 shares of the company’s stock worth $325,000 after acquiring an additional 20,026 shares during the period. 53.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NPWR has been the topic of several recent research reports. Citigroup lowered their target price on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Barclays cut their target price on NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 14th.

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.