Key Points
- 8 Rivers Capital sold 55,858 NET Power shares at an average price of $1.47, generating $82,111.26. The sale reduced its position by 2.03%, leaving it with 2.7 million shares.
- NET Power shares opened at $1.48 and were reported as trading up 8.5%, but remained near their 12-month low of $1.35 versus a high of $5.20. The company also missed quarterly earnings expectations, reporting a loss of $0.12 per share against the forecasted $0.07 loss.
- Institutional investors own 53.62% of NET Power, with several hedge funds increasing their stakes. Analyst sentiment is mixed—one Buy, one Hold and one Sell—with a consensus Hold rating and an average price target of $3.50.
NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 45,000 shares of the firm's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $1.41, for a total value of $63,450.00. Following the sale, the insider owned 2,655,000 shares in the company, valued at $3,743,550. This trade represents a 1.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more 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 Thursday, July 30th, 8 Rivers Capital, Llc sold 155,000 shares of NET Power stock. The shares were sold at an average price of $1.43, for a total value of $221,650.00.
- On Tuesday, July 28th, 8 Rivers Capital, Llc sold 55,858 shares of NET Power stock. The shares were sold at an average price of $1.47, for a total value of $82,111.26.
- On Wednesday, May 13th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The stock was sold at an average price of $2.43, for a total value of $85,050.00.
- On Tuesday, May 12th, 8 Rivers Capital, Llc sold 400,000 shares of NET Power stock. The stock was sold at an average price of $2.44, for a total value of $976,000.00.
NET Power Trading Up 8.5%
Shares of NYSE:NPWR opened at $1.48 on Friday. The firm has a market cap of $331.01 million, a price-to-earnings ratio of -0.25 and a beta of 1.06. The stock's 50-day moving average price is $1.69 and its two-hundred day moving average price is $1.88. NET Power Inc. has a 12-month low of $1.35 and a 12-month high of $5.20.
NET Power (NYSE:NPWR - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.05).
Institutional Investors Weigh In On NET Power
Several institutional investors and hedge funds have recently added to or reduced their stakes in NPWR. Schonfeld Strategic Advisors LLC acquired a new stake in NET Power during the fourth quarter worth about $25,000. Invesco Ltd. acquired a new position in shares of NET Power in the 2nd quarter valued at about $25,000. Summit Securities Group LLC acquired a new position in shares of NET Power in the 1st quarter valued at about $30,000. Sei Investments Co. purchased a new stake in shares of NET Power during the 2nd quarter worth about $32,000. Finally, Quantbot Technologies LP purchased a new stake in shares of NET Power during the 3rd quarter worth about $39,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently commented on NPWR shares. Weiss Ratings lowered shares of NET Power from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, May 27th. Wall Street Zen lowered shares of NET Power from a "sell" rating to a "strong sell" rating in a report on Saturday, July 18th. One equities 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $3.50.
View Our Latest Stock Report on NET Power
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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