Key Points
- 8 Rivers Capital sold 100,000 NET Power shares on March 3 at an average price of $2.04, leaving the firm with 400,000 shares (a 20% reduction from its prior position).
- The March 3 sale is part of a sustained selling spree by 8 Rivers during Feb–Mar, totaling about 800,000 shares sold for roughly $1.66 million in proceeds across the transactions listed.
- NET Power shares traded at $1.96 (down $0.05) with a 1-year range of $1.48–$6.99 and a market cap of about $435 million; analysts have an average rating of Hold and a consensus price target of $3.50.
NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 100,000 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $2.04, for a total transaction of $204,000.00. Following the completion of the transaction, the insider directly owned 400,000 shares of the company's stock, valued at approximately $816,000. The trade was a 20.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 Monday, March 2nd, 8 Rivers Capital, Llc sold 79,858 shares of NET Power stock. The stock was sold at an average price of $2.05, for a total transaction of $163,708.90.
- On Friday, February 27th, 8 Rivers Capital, Llc sold 4,744 shares of NET Power stock. The shares were sold at an average price of $2.00, for a total value of $9,488.00.
- On Thursday, February 26th, 8 Rivers Capital, Llc sold 1,881 shares of NET Power stock. The shares were sold at an average price of $2.00, for a total transaction of $3,762.00.
- On Friday, February 20th, 8 Rivers Capital, Llc sold 63,517 shares of NET Power stock. The stock was sold at an average price of $2.03, for a total transaction of $128,939.51.
- 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 value 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 value 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 value 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 transaction 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 transaction of $121,200.00.
- On Tuesday, February 10th, 8 Rivers Capital, Llc sold 40,000 shares of NET Power stock. The stock was sold at an average price of $2.08, for a total transaction of $83,200.00.
NET Power Stock Performance
Shares of NPWR traded down $0.05 during trading hours on Friday, reaching $1.96. 219,093 shares of the company traded hands, compared to its average volume of 820,889. NET Power Inc. has a 1-year low of $1.48 and a 1-year high of $6.99. The stock has a market cap of $435.39 million, a P/E ratio of -0.26 and a beta of 0.84. The stock's fifty day moving average is $2.30 and its 200 day moving average is $2.71.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. CenterBook Partners LP lifted its stake 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 buying an additional 599,725 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of NET Power by 16.4% in the second 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 purchasing an additional 400,000 shares during the last quarter. Caption Management LLC lifted its position 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 worth $993,000 after purchasing an additional 346,068 shares in the last quarter. UBS Group AG grew its position 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 purchasing an additional 278,400 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in NET Power by 99.3% in the 4th quarter. Empowered Funds LLC now owns 444,734 shares of the company's stock valued at $1,014,000 after buying an additional 221,530 shares during the last quarter. Institutional investors own 53.62% of the company's stock.
Wall Street Analysts Forecast Growth
NPWR has been the subject of several recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of NET Power in a research report on Thursday, January 22nd. Citigroup decreased their price target 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 NET Power from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $2.00 to $3.00 in a research note on Friday, November 14th. 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. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $3.50.
Get Our Latest Report on NET Power
NET Power Company Profile
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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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