Key Points
- Major shareholder 8 Rivers Capital sold 135,000 NET Power shares on January 14 at $2.74, reducing its direct holding to 1,915,000 shares (a 6.59% decrease), per an SEC filing.
- 8 Rivers has been actively liquidating over recent weeks, selling roughly 1.415 million shares across transactions from Nov. 28 to Jan. 16 for about $3.68 million in proceeds.
- NET Power shares opened at $2.62 (up ~4.4%), the company has a market cap of $582M, and analysts have 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 135,000 shares of the business's stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $2.74, for a total transaction of $369,900.00. Following the sale, the insider directly owned 1,915,000 shares of the company's stock, valued at approximately $5,247,100. This represents a 6.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% 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 Friday, January 16th, 8 Rivers Capital, Llc sold 230,000 shares of NET Power stock. The stock was sold at an average price of $2.63, for a total transaction of $604,900.00.
- On Wednesday, December 24th, 8 Rivers Capital, Llc sold 170,000 shares of NET Power stock. The shares were sold at an average price of $2.21, for a total value of $375,700.00.
- 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 value of $282,100.00.
- On Monday, December 22nd, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.26, for a total value of $226,000.00.
- On Friday, December 19th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.34, for a total value 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 value of $112,800.00.
- On Monday, December 8th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The stock was sold at an average price of $2.81, for a total value of $393,400.00.
- On Friday, December 5th, 8 Rivers Capital, Llc sold 105,000 shares of NET Power stock. The shares were 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 shares were sold at an average price of $2.94, for a total transaction of $191,100.00.
- On Friday, November 28th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The stock was sold at an average price of $2.94, for a total transaction of $588,000.00.
NET Power Stock Up 4.4%
Shares of NYSE:NPWR opened at $2.62 on Friday. The company's 50-day moving average price is $2.64 and its 200 day moving average price is $2.87. The company has a market cap of $582.01 million, a PE ratio of -0.34 and a beta of 0.81. NET Power Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $10.20.
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, topping the consensus estimate of ($0.16) by $6.00. As a group, equities analysts anticipate that NET Power Inc. will post -0.4 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Argentarii LLC grew its holdings in NET Power by 413.0% during the fourth quarter. Argentarii LLC now owns 263,507 shares of the company's stock worth $601,000 after acquiring an additional 212,142 shares during the period. Thompson Davis & CO. Inc. acquired a new stake in NET Power in the 4th quarter valued at about $41,000. JPMorgan Chase & Co. boosted its position in shares of NET Power by 1,226.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,929 shares of the company's stock valued at $641,000 after purchasing an additional 196,882 shares in the last quarter. Worth Venture Partners LLC acquired a new position in shares of NET Power in the 3rd quarter worth approximately $209,000. Finally, Sig Brokerage LP grew its stake in shares of NET Power by 50.3% in the 3rd quarter. Sig Brokerage LP now owns 24,298 shares of the company's stock worth $73,000 after purchasing an additional 8,130 shares during the last quarter. Institutional investors own 53.62% of the company's stock.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. Barclays upgraded NET Power from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $2.00 to $3.00 in a research report on Friday, November 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NET Power in a report on Wednesday, October 8th. Finally, Citigroup lowered their target price on shares of NET Power from $6.00 to $4.00 and set a "buy" rating on the stock in a research note on Tuesday, November 18th. One research 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's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $3.50.
Read Our Latest Stock Report on NPWR
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.
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