Key Points
- 8 Rivers Capital sold 35,000 NET Power shares at an average price of $1.60, generating $56,000. Following the transaction, it directly owned 2 million shares valued at approximately $3.2 million.
- The sale extends a broader selling pattern: 8 Rivers Capital has sold more than 750,000 additional shares since late July, with transaction prices ranging from $1.41 to $1.55.
- NET Power shares opened at $1.61, near their 50-day average and well below the 52-week high of $5.20. Analysts have a consensus “Hold” rating and an average price target of $3.50, while the company recently reported a larger-than-expected quarterly loss.
NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $1.60, for a total value of $56,000.00. Following the sale, the insider directly owned 2,000,000 shares of the company's stock, valued at approximately $3,200,000. This trade represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
8 Rivers Capital, Llc also recently made the following trade(s):
- On Monday, August 10th, 8 Rivers Capital, Llc sold 55,400 shares of NET Power stock. The stock was sold at an average price of $1.55, for a total value of $85,870.00.
- On Friday, August 7th, 8 Rivers Capital, Llc sold 60,345 shares of NET Power stock. The shares were sold at an average price of $1.53, for a total value of $92,327.85.
- On Thursday, August 6th, 8 Rivers Capital, Llc sold 89,255 shares of NET Power stock. The shares were sold at an average price of $1.51, for a total value of $134,775.05.
- 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 transaction of $211,400.00.
- On Tuesday, August 4th, 8 Rivers Capital, Llc sold 120,000 shares of NET Power stock. The stock was 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 stock was 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 shares were 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 shares were sold at an average price of $2.43, for a total transaction of $85,050.00.
NET Power Stock Up 2.9%
Shares of NPWR stock opened at $1.61 on Wednesday. The firm has a market cap of $362.43 million, a price-to-earnings ratio of -0.27 and a beta of 1.07. The company's 50 day moving average is $1.61 and its 200 day moving average is $1.81. NET Power Inc. has a 52-week low of $1.35 and a 52-week high of $5.20.
NET Power (NYSE:NPWR - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.05).
Analysts Set New Price Targets
Several research firms have recently commented on NPWR. Wall Street Zen lowered NET Power from a "sell" rating to a "strong sell" rating in a research 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 analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $3.50.
Get Our Latest Analysis on NPWR
Institutional Investors Weigh In On NET Power
Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in NET Power by 21.4% in the second quarter. Geode Capital Management LLC now owns 841,060 shares of the company's stock worth $2,078,000 after purchasing an additional 148,307 shares during the last quarter. JPMorgan Chase & Co. boosted its position 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 worth $40,000 after purchasing an additional 5,255 shares in the last quarter. Invesco Ltd. purchased a new position in NET Power during the 2nd quarter worth $25,000. Federated Hermes Inc. acquired a new position in NET Power during the 2nd quarter valued at about $151,000. Finally, Sei Investments Co. purchased a new stake in NET Power in the second quarter valued at about $32,000. Hedge funds and other institutional investors 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.
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