Insider Selling: NET Power Inc. (NYSE:NPWR) Major Shareholder Sells 1,764 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 1,764 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $7.00, for a total value of $12,348.00. Following the completion of the sale, the insider now owns 71,310 shares of the company’s stock, valued at $499,170. The transaction 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 sales and purchases with the SEC.

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

• 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 stock was sold at an average price of $7.02, for a total value of $562,456.44.

NET Power Stock Up 5.1 %

NYSE:NPWR traded up $0.35 during trading hours on Tuesday, hitting $7.15. The company had a trading volume of 377,127 shares, compared to its average volume of 359,152. The company has a 50-day moving average of $8.35 and a 200 day moving average of $9.67. NET Power Inc. has a 1 year low of $6.57 and a 1 year high of $15.87.

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

Hedge Funds Weigh In On NET Power

Large investors have recently modified their holdings of the business. Williams Jones Wealth Management LLC. acquired a new position in NET Power during the 1st quarter worth about $128,000. XTX Topco Ltd acquired a new position in NET Power during the 2nd quarter worth about $133,000. B. Riley Wealth Advisors Inc. acquired a new position in NET Power during the 2nd quarter worth about $136,000. K2 Principal Fund L.P. acquired a new position in NET Power during the 1st quarter worth about $148,000. Finally, Neuberger Berman Group LLC acquired a new position in NET Power during the 4th quarter worth about $163,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Citigroup dropped their price target on NET Power from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Barclays dropped their price target on NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report 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.