Insider Selling: NET Power Inc. (NYSE:NPWR) Major Shareholder Sells 46,585 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 46,585 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $7.07, for a total value of $329,355.95. Following the transaction, the insider now directly owns 24,723 shares in the company, valued at $174,791.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 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 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 shares were sold at an average price of $7.02, for a total value of $562,456.44.

NET Power Trading Down 0.3 %

NYSE NPWR traded down $0.02 on Wednesday, hitting $6.73. The company’s stock had a trading volume of 253,072 shares, compared to its average volume of 356,582. NET Power Inc. has a 52-week low of $6.57 and a 52-week high of $15.38. The company’s 50-day simple moving average is $8.05 and its 200 day simple moving average is $9.58.

NET Power (NYSE:NPWR) last posted its earnings results 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, analysts forecast that NET Power Inc. will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On NET Power

Several hedge funds have recently made changes to their positions in the company. Greenlight Capital Inc. lifted its position in NET Power by 5.5% during the fourth quarter. Greenlight Capital Inc. now owns 2,992,110 shares of the company’s stock valued at $30,220,000 after buying an additional 155,000 shares during the period. Vanguard Group Inc. lifted its position in NET Power by 65.1% during the 1st quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock valued at $27,617,000 after acquiring an additional 956,134 shares during the period. Encompass Capital Advisors LLC bought a new stake in NET Power during the second quarter worth about $20,537,000. Marshall Wace LLP grew its holdings in NET Power by 226.9% in the second quarter. Marshall Wace LLP now owns 583,688 shares of the company’s stock worth $5,738,000 after purchasing an additional 405,128 shares during the period. Finally, Khrom Capital Management LLC increased its stake in shares of NET Power by 9.6% during the second quarter. Khrom Capital Management LLC now owns 440,596 shares of the company’s stock valued at $4,331,000 after purchasing an additional 38,500 shares in the last quarter. 53.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NPWR shares. Barclays lowered their price target on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, August 14th. Citigroup decreased their price objective on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th.

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.