Key Points
- 8 Rivers Capital sold 200,000 shares of NET Power on Nov. 28 at an average price of $2.94 for $588,000, leaving it with 2,900,000 shares (a 6.45% reduction in its position).
- The Nov. 28 sale is part of a larger selling spree since late October in which 8 Rivers disposed of roughly 2.07 million shares, generating about $7.14 million in proceeds across multiple transactions.
- NET Power shares have fallen about 6.1%, trading near $2.71 with a market cap around $601 million; analysts have a consensus rating of "Hold" and an average price target of $3.50, after the company reported an unexpected $5.84 EPS for the quarter.
NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 200,000 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $2.94, for a total transaction of $588,000.00. Following the sale, the insider owned 2,900,000 shares of the company's stock, valued at $8,526,000. This trade represents a 6.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 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 Friday, November 21st, 8 Rivers Capital, Llc sold 17,163 shares of NET Power stock. The stock was sold at an average price of $2.50, for a total transaction of $42,907.50.
- On Thursday, November 20th, 8 Rivers Capital, Llc sold 132,837 shares of NET Power stock. The stock was sold at an average price of $2.60, for a total value of $345,376.20.
- On Wednesday, November 19th, 8 Rivers Capital, Llc sold 250,000 shares of NET Power stock. The shares were sold at an average price of $2.57, for a total value of $642,500.00.
- On Monday, November 17th, 8 Rivers Capital, Llc sold 338,653 shares of NET Power stock. The stock was sold at an average price of $2.81, for a total value of $951,614.93.
- On Monday, November 3rd, 8 Rivers Capital, Llc sold 8,477 shares of NET Power stock. The shares were sold at an average price of $4.00, for a total value of $33,908.00.
- On Friday, October 31st, 8 Rivers Capital, Llc sold 18,116 shares of NET Power stock. The stock was sold at an average price of $4.05, for a total transaction of $73,369.80.
- On Tuesday, October 28th, 8 Rivers Capital, Llc sold 7,585 shares of NET Power stock. The stock was sold at an average price of $3.77, for a total value of $28,595.45.
- On Thursday, October 30th, 8 Rivers Capital, Llc sold 107,754 shares of NET Power stock. The stock was sold at an average price of $4.04, for a total value of $435,326.16.
- On Wednesday, October 29th, 8 Rivers Capital, Llc sold 786,832 shares of NET Power stock. The shares were sold at an average price of $4.12, for a total transaction of $3,241,747.84.
- On Monday, October 27th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The shares were sold at an average price of $3.77, for a total transaction of $754,000.00.
NET Power Stock Down 6.1%
Shares of NPWR stock opened at $2.71 on Wednesday. NET Power Inc. has a 12-month low of $1.48 and a 12-month high of $12.45. The firm has a fifty day moving average of $3.36 and a 200-day moving average of $2.80. The firm has a market capitalization of $600.89 million, a price-to-earnings ratio of -0.35 and a beta of 0.80.
NET Power (NYSE:NPWR - Get Free Report) last released its quarterly earnings results on Thursday, November 13th. The company reported $5.84 EPS for the quarter, topping analysts' consensus estimates of ($0.16) by $6.00. Research analysts expect that NET Power Inc. will post -0.4 earnings per share for the current year.
Analyst Ratings Changes
NPWR has been the subject of several recent analyst reports. Barclays upgraded shares of NET Power from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $2.00 to $3.00 in a research note on Friday, November 14th. Citigroup dropped their price objective on shares of NET Power from $6.00 to $4.00 and set a "buy" rating on the stock in a research report on Tuesday, November 18th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NET Power in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $3.50.
Check Out Our Latest Report on NPWR
Hedge Funds Weigh In On NET Power
Several institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd raised its stake in NET Power by 129.3% in the 1st quarter. XTX Topco Ltd now owns 138,198 shares of the company's stock worth $363,000 after purchasing an additional 77,929 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of NET Power by 63.0% during the first quarter. Deutsche Bank AG now owns 14,051 shares of the company's stock worth $37,000 after purchasing an additional 5,429 shares during the period. CenterBook Partners LP raised its position in shares of NET Power by 1,655.5% in the first quarter. CenterBook Partners LP now owns 1,744,770 shares of the company's stock valued at $4,589,000 after buying an additional 1,645,380 shares in the last quarter. Nuveen LLC acquired a new stake in shares of NET Power in the first quarter valued at approximately $136,000. Finally, Quantbot Technologies LP bought a new stake in shares of NET Power in the first quarter valued at approximately $221,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.
NET Power Company Profile
(
Get Free Report)
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.
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