NET Power Inc. (NYSE:NPWR) Major Shareholder Sells $562,456.44 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 80,122 shares of NET Power stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $7.02, for a total transaction of $562,456.44. Following the sale, the insider now directly owns 342,364 shares in the company, valued at approximately $2,403,395.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

NET Power Price Performance

Shares of NYSE NPWR traded up $0.35 during trading on Thursday, reaching $7.07. The stock had a trading volume of 1,458,012 shares, compared to its average volume of 355,270. The firm’s 50 day moving average price is $8.47 and its two-hundred day moving average price is $9.67. NET Power Inc. has a one year low of $6.57 and a one year high of $16.34.

NET Power (NYSE:NPWR) last issued its earnings results on Monday, August 12th. The company reported ($0.06) earnings per share for the quarter. The business had revenue of $0.24 million for the quarter. As a group, equities research analysts expect that NET Power Inc. will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Williams Jones Wealth Management LLC. acquired a new stake in NET Power in the first quarter worth about $128,000. XTX Topco Ltd acquired a new position in NET Power during the 2nd quarter valued at about $133,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of NET Power during the 2nd quarter worth about $136,000. K2 Principal Fund L.P. acquired a new stake in shares of NET Power in the 1st quarter worth approximately $148,000. Finally, Neuberger Berman Group LLC bought a new position in shares of NET Power in the fourth quarter valued at approximately $163,000. 53.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NPWR has been the subject of several recent analyst reports. Citigroup lowered their target price on NET Power from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Barclays lowered their price objective 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.

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.