Key Points
- 8 Rivers Capital, LLC sold 54,780 shares of NET Power on Jan. 29 at an average price of $2.35, receiving $128,733 and reducing its stake to 1,200,000 shares (a 4.37% decrease) valued at about $2.82 million.
- The Jan. 29 sale is part of a broader disposal of roughly 1,255,000 shares from Dec. 9–Jan. 29, which generated approximately $3.03 million in total proceeds.
- NET Power shares opened at $2.35, trade near their 50- and 200-day moving averages ($2.55 and $2.82), and carry a MarketBeat consensus "Hold" rating with an average analyst target of $3.50.
NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 54,780 shares of the company's stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $2.35, for a total transaction of $128,733.00. Following the transaction, the insider owned 1,200,000 shares in the company, valued at approximately $2,820,000. The trade was a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more 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 Wednesday, January 28th, 8 Rivers Capital, Llc sold 65,220 shares of NET Power stock. The stock was sold at an average price of $2.38, for a total transaction of $155,223.60.
- On Tuesday, January 27th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.38, for a total transaction 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 stock was 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 shares were 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 stock was 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 shares were 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.
NET Power Price Performance
NPWR opened at $2.35 on Tuesday. NET Power Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $8.87. The firm has a market capitalization of $520.92 million, a P/E ratio of -0.31 and a beta of 0.82. The company's 50-day moving average is $2.55 and its 200 day moving average is $2.82.
NET Power (NYSE:NPWR - Get Free Report) last posted its quarterly earnings data on Thursday, November 13th. The company reported $5.84 EPS for the quarter, beating the consensus estimate of ($0.16) by $6.00. On average, equities research analysts expect that NET Power Inc. will post -0.4 earnings per share for the current year.
Analyst Upgrades and Downgrades
NPWR has been the topic of several research reports. Weiss Ratings restated a "sell (d-)" rating on shares of NET Power in a research note on Thursday, January 22nd. Citigroup lowered their price objective on NET Power from $6.00 to $4.00 and set a "buy" rating on the stock in a research note on Tuesday, November 18th. Finally, Barclays upgraded shares of 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 equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $3.50.
Get Our Latest Stock Analysis on NET Power
Institutional Investors Weigh In On NET Power
Several hedge funds and other institutional investors have recently modified their holdings of NPWR. Janney Montgomery Scott LLC bought a new position in shares of NET Power in the second quarter valued at approximately $25,000. Invesco Ltd. bought a new position in NET Power in the 2nd quarter valued at $25,000. Sei Investments Co. purchased a new position in shares of NET Power during the 2nd quarter valued at $32,000. Quantbot Technologies LP bought a new position in shares of NET Power in the third quarter worth $39,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of NET Power by 48.7% in the second quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company's stock worth $40,000 after purchasing an additional 5,255 shares during the period. 53.62% of the stock is currently owned by institutional investors.
About NET Power
(
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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