Key Points
- 8 Rivers Capital sold 170,000 NET Power (NPWR) shares on December 24 at an average price of $2.21 for $375,700, leaving it with 2,050,000 shares (a 7.66% ownership decrease).
- Across November–December the insider liquidated a total of 1.2 million shares for roughly $3.10 million, indicating sustained insider selling activity.
- NET Power shares recently traded near $2.24, the company has a market cap of about $497 million, and analysts' consensus is an average rating of Hold with a $3.50 average price target.
NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 170,000 shares of the company's stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $2.21, for a total transaction of $375,700.00. Following the completion of the transaction, the insider owned 2,050,000 shares in the company, valued at approximately $4,530,500. The trade was a 7.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major 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 Tuesday, December 23rd, 8 Rivers Capital, Llc sold 130,000 shares of NET Power stock. The shares were sold at an average price of $2.17, for a total transaction of $282,100.00.
- On Monday, December 22nd, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.26, for a total transaction of $226,000.00.
- On Friday, December 19th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.34, for a total transaction of $234,000.00.
- On Tuesday, December 9th, 8 Rivers Capital, Llc sold 40,000 shares of NET Power stock. The stock was sold at an average price of $2.82, for a total transaction of $112,800.00.
- 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 value of $305,550.00.
- On Thursday, December 4th, 8 Rivers Capital, Llc sold 65,000 shares of NET Power stock. The stock was 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.
NET Power Trading Up 2.1%
Shares of NET Power stock opened at $2.24 on Tuesday. NET Power Inc. has a 12 month low of $1.48 and a 12 month high of $11.83. The stock's fifty day moving average price is $2.93 and its 200-day moving average price is $2.85. The firm has a market cap of $496.93 million, a P/E ratio of -0.29 and a beta of 0.80.
NET Power (NYSE:NPWR - Get Free Report) last posted its earnings results on Thursday, November 13th. The company reported $5.84 EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $6.00. Analysts forecast that NET Power Inc. will post -0.4 earnings per share for the current year.
Institutional Investors Weigh In On NET Power
Several institutional investors have recently bought and sold shares of NPWR. Adage Capital Partners GP L.L.C. lifted its holdings in shares of NET Power by 481.0% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,440,000 shares of the company's stock valued at $6,417,000 after purchasing an additional 2,020,000 shares during the last quarter. CenterBook Partners LP increased its position in NET Power by 78.8% during the 3rd quarter. CenterBook Partners LP now owns 1,248,348 shares of the company's stock valued at $3,758,000 after buying an additional 550,270 shares in the last quarter. Caption Management LLC raised its stake in NET Power by 619.8% in the second quarter. Caption Management LLC now owns 401,899 shares of the company's stock valued at $993,000 after buying an additional 346,068 shares during the last quarter. UBS Group AG raised its stake in NET Power by 183.1% in the third quarter. UBS Group AG now owns 430,452 shares of the company's stock valued at $1,296,000 after buying an additional 278,400 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in NET Power by 36.7% in the third quarter. Two Sigma Investments LP now owns 821,793 shares of the company's stock worth $2,474,000 after acquiring an additional 220,831 shares in the last quarter. 53.62% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently commented on NPWR. Barclays raised shares of NET Power from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $2.00 to $3.00 in a research note on Friday, November 14th. Citigroup reduced their price target on NET Power from $6.00 to $4.00 and set a "buy" rating for the company in a research report on Tuesday, November 18th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of NET Power in a research note 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $3.50.
View Our Latest Stock Report on NET Power
NET Power Company Profile
(
Get Free Report)
NET Power, Inc is an energy technology company focused on developing and commercializing power generation plants that burn natural gas and other fuels with near-zero carbon emissions. The company's core innovation is the proprietary Allam-Fetvedt Cycle, a supercritical carbon dioxide power cycle that captures all carbon dioxide produced during combustion without the need for separate carbon capture systems. By integrating gas combustion, heat exchange and carbon dioxide separation into a single closed-loop process, NET Power aims to deliver baseload power with efficiencies and emissions profiles competitive with conventional and renewable generation sources.
Since demonstrating its first full-scale Allam-Cycle facility in La Porte, Texas, NET Power has moved from pilot operation toward commercial deployment.
Further Reading
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