Key Points
- 8 Rivers Capital sold 201,550 NET Power shares at an average price of $1.91, generating $384,960.50 and reducing its position by 16.22% to 1,041,350 shares. The major shareholder has also made multiple additional sales in August.
- NET Power shares opened at $1.91 and were up 5.2%, with a market capitalization of approximately $428 million. The stock remains well below its 52-week high of $5.20 and recently reported an adjusted loss of $0.91 per share, missing estimates by $0.84.
- Analyst sentiment is mixed, with one Buy, one Hold and one Sell rating; the stock carries an overall “Hold” consensus and an average price target of $3.50. Institutional investors own approximately 53.62% of the company.
NET Power Inc. (NYSE:NPWR - Get Free Report) major shareholder 8 Rivers Capital, Llc sold 41,350 shares of NET Power stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $1.91, for a total value of $78,978.50. Following the sale, the insider directly owned 1,000,000 shares in the company, valued at approximately $1,910,000. The trade was a 3.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 Tuesday, August 25th, 8 Rivers Capital, Llc sold 201,550 shares of NET Power stock. The stock was sold at an average price of $1.91, for a total value of $384,960.50.
- On Friday, August 14th, 8 Rivers Capital, Llc sold 507,100 shares of NET Power stock. The shares were sold at an average price of $1.95, for a total value of $988,845.00.
- On Thursday, August 13th, 8 Rivers Capital, Llc sold 200,000 shares of NET Power stock. The shares were sold at an average price of $1.62, for a total value of $324,000.00.
- On Wednesday, August 12th, 8 Rivers Capital, Llc sold 50,000 shares of NET Power stock. The shares were sold at an average price of $1.63, for a total value of $81,500.00.
- On Tuesday, August 11th, 8 Rivers Capital, Llc sold 35,000 shares of NET Power stock. The shares were sold at an average price of $1.60, for a total value of $56,000.00.
- 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 transaction of $85,870.00.
- On Friday, August 7th, 8 Rivers Capital, Llc sold 60,345 shares of NET Power stock. The stock was sold at an average price of $1.53, for a total transaction 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 transaction of $134,775.05.
- On Wednesday, August 5th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The shares were 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.
NET Power Stock Performance
NPWR opened at $1.91 on Friday. The company has a 50-day moving average of $1.62 and a 200-day moving average of $1.77. The company has a market capitalization of $428.36 million, a P/E ratio of -0.30 and a beta of 1.07. 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 issued its earnings results on Thursday, August 13th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.84).
Analyst Upgrades and Downgrades
A number of research analysts have commented on NPWR shares. Wall Street Zen downgraded NET Power from a "sell" rating to a "strong sell" rating in a report on Saturday, July 18th. Weiss Ratings downgraded NET Power from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $3.50.
View Our Latest Report on NET Power
Institutional Investors Weigh In On NET Power
Several institutional investors and hedge funds have recently bought and sold shares of NPWR. Renaissance Technologies LLC boosted its stake in NET Power by 644.0% in the first quarter. Renaissance Technologies LLC now owns 703,800 shares of the company's stock valued at $1,098,000 after acquiring an additional 609,200 shares during the period. CenterBook Partners LP lifted its holdings in shares of NET Power by 48.0% in the 4th quarter. CenterBook Partners LP now owns 1,848,073 shares of the company's stock worth $4,214,000 after purchasing an additional 599,725 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings 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 worth $7,015,000 after purchasing an additional 400,000 shares during the last quarter. Caption Management LLC boosted its position in NET Power by 619.8% during the 2nd quarter. Caption Management LLC now owns 401,899 shares of the company's stock valued at $993,000 after purchasing an additional 346,068 shares during the period. Finally, UBS Group AG grew its stake in NET Power by 183.1% during the 3rd quarter. UBS Group AG now owns 430,452 shares of the company's stock worth $1,296,000 after buying an additional 278,400 shares during the last quarter. Institutional investors and hedge funds own 53.62% of the company's stock.
About NET Power
(
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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