Key Points
- 8 Rivers Capital sold 120,000 NET Power shares at an average price of $1.54, generating $184,800. After the transaction, it owned 2.38 million shares, a 4.8% reduction in its position.
- 8 Rivers Capital has made several additional sales recently, including 89,255 shares on August 6 and 140,000 shares on August 5, continuing a broader pattern of selling.
- NET Power shares opened at $1.50, with a market capitalization of approximately $335.5 million and a 52-week range of $1.35 to $5.20. Analysts have a consensus “Hold” rating and a $3.50 price target, while the company recently reported a quarterly loss of $0.12 per share.
NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 89,255 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $1.51, for a total value of $134,775.05. Following the sale, the insider directly owned 2,150,745 shares in the company, valued at approximately $3,247,624.95. The trade was a 3.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% 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, August 5th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The stock was sold at an average price of $1.51, for a total value of $211,400.00.
- On Tuesday, August 4th, 8 Rivers Capital, Llc sold 120,000 shares of NET Power stock. The shares were sold at an average price of $1.54, for a total transaction of $184,800.00.
- 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 transaction of $221,650.00.
- On Wednesday, July 29th, 8 Rivers Capital, Llc sold 45,000 shares of NET Power stock. The stock was sold at an average price of $1.41, for a total transaction of $63,450.00.
- On Tuesday, July 28th, 8 Rivers Capital, Llc sold 55,858 shares of NET Power stock. The stock was sold at an average price of $1.47, for a total transaction 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 transaction of $85,050.00.
- On Tuesday, May 12th, 8 Rivers Capital, Llc sold 400,000 shares of NET Power stock. The shares were sold at an average price of $2.44, for a total transaction of $976,000.00.
NET Power Stock Performance
Shares of NPWR opened at $1.50 on Friday. The company has a market capitalization of $335.51 million, a price-to-earnings ratio of -0.25 and a beta of 1.07. The company's 50 day simple moving average is $1.64 and its 200 day simple moving average is $1.83. NET Power Inc. has a 1 year low of $1.35 and a 1 year high of $5.20.
NET Power (NYSE:NPWR - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.05).
Hedge Funds Weigh In On NET Power
Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in shares of 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 acquiring an additional 5,255 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of NET Power by 44.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,525 shares of the company's stock valued at $46,000 after acquiring an additional 5,739 shares in the last quarter. Barclays PLC boosted its position in NET Power by 14.6% during the 4th quarter. Barclays PLC now owns 54,750 shares of the company's stock worth $125,000 after purchasing an additional 6,970 shares during the period. Engineers Gate Manager LP boosted its position 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 period. Finally, Sig Brokerage LP increased its holdings in NET Power by 50.3% in the 3rd quarter. Sig Brokerage LP now owns 24,298 shares of the company's stock valued at $73,000 after purchasing an additional 8,130 shares in the last quarter. Institutional investors and hedge funds own 53.62% of the company's stock.
Wall Street Analyst Weigh In
NPWR has been the topic of several analyst reports. Wall Street Zen cut NET Power from a "sell" rating to a "strong sell" rating in a report on Saturday, July 18th. Weiss Ratings lowered NET Power from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, NET Power presently has an average rating of "Hold" and a consensus price target 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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