Insider Selling: NET Power Inc. (NYSE:NPWR) Major Shareholder Sells $3,685,440.16 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 517,618 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $7.12, for a total transaction of $3,685,440.16. Following the transaction, the insider now directly owns 199,369 shares of the company’s stock, valued at $1,419,507.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, October 7th, 8 Rivers Capital, Llc sold 8,871 shares of NET Power stock. The stock was sold at an average price of $7.01, for a total transaction of $62,185.71.
• On Thursday, October 3rd, 8 Rivers Capital, Llc sold 10,433 shares of NET Power stock. The stock was sold at an average price of $7.00, for a total transaction of $73,031.00.
• On Monday, September 30th, 8 Rivers Capital, Llc sold 46,585 shares of NET Power stock. The stock was sold at an average price of $7.07, for a total transaction of $329,355.95.
• 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 transaction of $12,348.00.
• On Friday, September 20th, 8 Rivers Capital, Llc sold 26,926 shares of NET Power stock. The shares were sold at an average price of $7.00, for a total transaction 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 transaction of $562,456.44.

NET Power Price Performance

NET Power stock opened at $8.16 on Monday. NET Power Inc. has a 1 year low of $6.57 and a 1 year high of $14.98. The company’s fifty day moving average price is $7.53 and its 200 day moving average price is $9.24.

NET Power (NYSE:NPWR) last announced 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 for the quarter. On average, sell-side analysts predict that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NET Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Encompass Capital Advisors LLC purchased a new position in shares of NET Power during the 2nd quarter worth $20,537,000. Vanguard Group Inc. raised its holdings in shares of NET Power by 65.1% during the 1st quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock worth $27,617,000 after acquiring an additional 956,134 shares during the period. Marshall Wace LLP raised its holdings in shares of NET Power by 226.9% during the 2nd quarter. Marshall Wace LLP now owns 583,688 shares of the company’s stock worth $5,738,000 after acquiring an additional 405,128 shares during the period. Thomist Capital Management LP purchased a new position in shares of NET Power during the 2nd quarter worth $1,073,000. Finally, SIR Capital Management L.P. purchased a new position in shares of NET Power during the 2nd quarter worth $971,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NPWR shares. Barclays dropped their price target on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 14th. Citigroup dropped their price target 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.

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.