Key Points
- 8 Rivers Capital sold 40,000 NET Power shares on Dec. 9 at $2.82 for $112,800, part of a larger November–December selling spree that has reduced its stake by 1.54% and involved multiple transactions totaling millions of dollars.
- NET Power trades around $2.69 with a market cap of about $597.6M; analysts are mixed (average rating "Hold", average target $3.50) after the company reported a surprising $5.84 EPS in November while sell-side consensus still expects roughly -0.4 EPS for the fiscal year.
NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 40,000 shares of the firm's stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2.82, for a total transaction of $112,800.00. Following the transaction, the insider owned 2,550,000 shares of the company's stock, valued at $7,191,000. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% 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 Monday, December 8th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The shares were sold at an average price of $2.81, for a total transaction of $393,400.00.
- On Friday, December 5th, 8 Rivers Capital, Llc sold 105,000 shares of NET Power stock. The stock was sold at an average price of $2.91, for a total transaction of $305,550.00.
- On Thursday, December 4th, 8 Rivers Capital, Llc sold 65,000 shares of NET Power stock. The shares were sold at an average price of $2.94, for a total value of $191,100.00.
- On Friday, November 28th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The shares were sold at an average price of $2.94, for a total value of $588,000.00.
- 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 value 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 transaction 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.
NET Power Price Performance
NYSE:NPWR opened at $2.69 on Friday. The firm has a market cap of $597.56 million, a PE ratio of -0.35 and a beta of 0.80. The firm has a 50 day simple moving average of $3.33 and a 200-day simple moving average of $2.84. NET Power Inc. has a 1-year low of $1.48 and a 1-year high of $11.83.
NET Power (NYSE:NPWR - Get Free Report) last released its earnings results on Thursday, November 13th. The company reported $5.84 EPS for the quarter, topping the consensus estimate of ($0.16) by $6.00. As a group, sell-side analysts expect that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts recently commented on NPWR shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of NET Power in a research note on Wednesday, October 8th. Citigroup decreased their price target on shares of NET Power from $6.00 to $4.00 and set a "buy" rating on the stock in a report on Tuesday, November 18th. Finally, Barclays raised NET Power from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $2.00 to $3.00 in a research report on Friday, November 14th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $3.50.
Check Out Our Latest Stock Analysis on NPWR
Hedge Funds Weigh In On NET Power
Several hedge funds and other institutional investors have recently made changes to their positions in NPWR. Deutsche Bank AG raised its position in NET Power by 63.0% in the first quarter. Deutsche Bank AG now owns 14,051 shares of the company's stock valued at $37,000 after purchasing an additional 5,429 shares during the period. Nuveen LLC purchased a new position in NET Power in the 1st quarter worth approximately $136,000. Quantbot Technologies LP acquired a new stake in NET Power in the first quarter valued at approximately $221,000. HITE Hedge Asset Management LLC raised its stake in shares of NET Power by 80.6% during the first quarter. HITE Hedge Asset Management LLC now owns 743,238 shares of the company's stock valued at $1,955,000 after purchasing an additional 331,726 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in shares of NET Power during the first quarter worth $126,000. Institutional investors and hedge funds own 53.62% of the company's stock.
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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