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 company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $7.00, for a total transaction of $188,482.00. Following the transaction, the insider now owns 73,074 shares of the company’s stock, valued at approximately $511,518. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 shares were sold at an average price of $7.00, for a total transaction of $12,348.00.
• 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 Performance

NYSE NPWR traded up $0.35 during mid-day trading on Tuesday, hitting $7.15. The stock had a trading volume of 377,127 shares, compared to its average volume of 359,152. The company has a 50 day simple moving average of $8.35 and a 200 day simple moving average of $9.67. NET Power Inc. has a 52-week low of $6.57 and a 52-week high of $15.87.

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

Wall Street Analysts Forecast Growth

NPWR has been the topic of a number of recent analyst reports. Citigroup lowered 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. Barclays lowered their target price on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 14th.

Hedge Funds Weigh In On NET Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NPWR. Williams Jones Wealth Management LLC. acquired a new stake in shares of NET Power during the first quarter valued at $128,000. XTX Topco Ltd purchased a new position in shares of NET Power during the 2nd quarter worth $133,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of NET Power during the second quarter worth $136,000. K2 Principal Fund L.P. purchased a new stake in shares of NET Power in the first quarter valued at $148,000. Finally, Neuberger Berman Group LLC purchased a new stake in shares of NET Power in the fourth quarter valued at $163,000. Institutional investors and hedge funds own 53.62% of the company’s stock.

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.