Key Points
- 8 Rivers Capital sold 63,517 NET Power shares on Feb. 20 at $2.03, cutting its stake by 9.77% to 586,483 shares valued at about $1.19 million.
- The firm conducted a selling spree from Jan. 26–Feb. 20, offloading roughly 963,517 shares across multiple transactions for approximately $2.1 million in total proceeds.
- NET Power shares opened at $1.86 (down 5.4%), the company has a market cap around $412 million, and analysts hold an average rating of "Hold" with a $3.50 price target.
NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 63,517 shares of the business's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $2.03, for a total transaction of $128,939.51. Following the completion of the transaction, the insider owned 586,483 shares of the company's stock, valued at $1,190,560.49. The trade was a 9.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Large 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 Thursday, February 19th, 8 Rivers Capital, Llc sold 125,000 shares of NET Power stock. The stock was sold at an average price of $2.14, for a total transaction of $267,500.00.
- On Wednesday, February 18th, 8 Rivers Capital, Llc sold 75,000 shares of NET Power stock. The shares were sold at an average price of $2.07, for a total transaction of $155,250.00.
- On Friday, February 13th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.14, for a total transaction of $214,000.00.
- On Thursday, February 12th, 8 Rivers Capital, Llc sold 150,000 shares of NET Power stock. The stock was sold at an average price of $2.03, for a total value of $304,500.00.
- On Wednesday, February 11th, 8 Rivers Capital, Llc sold 60,000 shares of NET Power stock. The shares were sold at an average price of $2.02, for a total value of $121,200.00.
- On Tuesday, February 10th, 8 Rivers Capital, Llc sold 40,000 shares of NET Power stock. The shares were sold at an average price of $2.08, for a total value of $83,200.00.
- On Thursday, January 29th, 8 Rivers Capital, Llc sold 54,780 shares of NET Power stock. The stock was sold at an average price of $2.35, for a total value of $128,733.00.
- 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 value 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 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.
NET Power Trading Down 5.4%
Shares of NYSE NPWR opened at $1.86 on Tuesday. The company has a market cap of $412.07 million, a price-to-earnings ratio of -0.24 and a beta of 0.82. NET Power Inc. has a 12 month low of $1.48 and a 12 month high of $7.70. The stock has a 50-day moving average price of $2.35 and a two-hundred day moving average price of $2.75.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of NET Power in a research note on Thursday, January 22nd. Barclays upgraded shares of NET Power from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $2.00 to $3.00 in a report on Friday, November 14th. Finally, Citigroup cut their price objective on NET Power from $6.00 to $4.00 and set a "buy" rating on the stock in a report on Tuesday, November 18th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $3.50.
Check Out Our Latest Analysis on NPWR
Hedge Funds Weigh In On NET Power
Hedge funds have recently modified their holdings of the business. CenterBook Partners LP increased its holdings in NET Power by 48.0% in the fourth quarter. CenterBook Partners LP now owns 1,848,073 shares of the company's stock valued at $4,214,000 after purchasing an additional 599,725 shares during the period. Adage Capital Partners GP L.L.C. grew its position in shares of NET Power by 16.4% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,840,000 shares of the company's stock valued at $7,015,000 after buying an additional 400,000 shares during the last quarter. Caption Management LLC increased its stake in shares of 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 period. UBS Group AG raised its position in shares of NET Power by 183.1% during the third quarter. UBS Group AG now owns 430,452 shares of the company's stock worth $1,296,000 after acquiring an additional 278,400 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of NET Power by 99.3% during the fourth quarter. Empowered Funds LLC now owns 444,734 shares of the company's stock worth $1,014,000 after acquiring an additional 221,530 shares during the last quarter. Institutional investors and hedge funds own 53.62% of the company's stock.
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
