Key Points
- 8 Rivers Capital sold 65,220 NET Power shares on Jan. 28 at an average price of $2.38 for $155,223.60, leaving it with 1,254,780 shares (valued at about $2.99M) after the trade.
- Between December and January the firm sold roughly 1.34 million NET Power shares for about $3.3 million in total, indicating substantial insider selling over that period.
NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 65,220 shares of the business's stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $2.38, for a total transaction of $155,223.60. Following the transaction, the insider owned 1,254,780 shares of the company's stock, valued at $2,986,376.40. This represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major 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 Tuesday, January 27th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.38, for a total value of $238,000.00.
- On Monday, January 26th, 8 Rivers Capital, Llc sold 130,000 shares of NET Power stock. The shares were sold at an average price of $2.35, for a total value of $305,500.00.
- On Friday, January 16th, 8 Rivers Capital, Llc sold 230,000 shares of NET Power stock. The shares were sold at an average price of $2.63, for a total value of $604,900.00.
- On Wednesday, January 14th, 8 Rivers Capital, Llc sold 135,000 shares of NET Power stock. The stock was sold at an average price of $2.74, for a total value of $369,900.00.
- 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 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 shares were 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.
NET Power Stock Performance
Shares of NYSE NPWR opened at $2.34 on Thursday. The company has a market capitalization of $518.70 million, a PE ratio of -0.31 and a beta of 0.81. The company's fifty day moving average price is $2.56 and its 200 day moving average price is $2.84. NET Power Inc. has a 1 year low of $1.48 and a 1 year high of $8.98.
NET Power (NYSE:NPWR - Get Free Report) last issued its quarterly earnings data on Thursday, November 13th. The company reported $5.84 earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $6.00. On average, equities analysts expect that NET Power Inc. will post -0.4 EPS for the current year.
Hedge Funds Weigh In On NET Power
Several hedge funds and other institutional investors have recently made changes to their positions in NPWR. Stonegate Investment Group LLC boosted its stake in shares of NET Power by 20.0% in the third quarter. Stonegate Investment Group LLC now owns 30,000 shares of the company's stock worth $90,000 after acquiring an additional 5,000 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in NET Power by 48.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company's stock valued at $40,000 after purchasing an additional 5,255 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NET Power by 44.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company's stock valued at $46,000 after purchasing an additional 5,739 shares in the last quarter. Engineers Gate Manager LP boosted its stake in NET Power by 17.8% during the 2nd quarter. Engineers Gate Manager LP now owns 46,433 shares of the company's stock worth $115,000 after purchasing an additional 7,002 shares during the last quarter. Finally, Sig Brokerage LP grew its holdings in shares of NET Power by 50.3% during the third quarter. Sig Brokerage LP now owns 24,298 shares of the company's stock worth $73,000 after buying an additional 8,130 shares in the last quarter. Hedge funds and other institutional investors own 53.62% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have commented on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of NET Power in a report on Thursday, January 22nd. Barclays raised shares of NET Power from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $2.00 to $3.00 in a research note on Friday, November 14th. Finally, Citigroup cut their price target on shares of NET Power from $6.00 to $4.00 and set a "buy" rating for the company in a report on Tuesday, November 18th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, NET Power presently has an average rating of "Hold" and an average target price of $3.50.
Check Out Our Latest Stock Analysis 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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