Key Points
- 8 Rivers Capital sold 100,000 NET Power shares at an average price of $1.94, generating $194,000 and reducing its direct ownership by 10% to 900,000 shares.
- The sale follows a series of recent disposals totaling more than 1.4 million shares, signaling continued selling by NET Power’s major shareholder.
- NET Power shares opened at $1.80, well below their 52-week high of $5.20. The company reported a quarterly loss of $0.91 per share versus analysts’ expected loss of $0.07, while analysts maintained a consensus “Hold” rating with a $3.50 price target.
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, September 8th. The shares were sold at an average price of $1.94, for a total transaction of $194,000.00. Following the completion of the transaction, the insider directly owned 900,000 shares in the company, valued at approximately $1,746,000. This represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
8 Rivers Capital, Llc also recently made the following trade(s):
- On Wednesday, September 9th, 8 Rivers Capital, Llc sold 150,000 shares of NET Power stock. The stock was sold at an average price of $1.84, for a total transaction of $276,000.00.
- On Wednesday, August 26th, 8 Rivers Capital, Llc sold 41,350 shares of NET Power stock. The stock was sold at an average price of $1.91, for a total value of $78,978.50.
- On Tuesday, August 25th, 8 Rivers Capital, Llc sold 201,550 shares of NET Power stock. The shares were 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 stock was 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 stock was 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 stock was 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 shares were 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.
NET Power Price Performance
NPWR stock opened at $1.80 on Friday. The stock has a market capitalization of $405.87 million, a price-to-earnings ratio of -0.28 and a beta of 1.10. The business's fifty day moving average price is $1.65 and its two-hundred day moving average price is $1.75. NET Power Inc. has a fifty-two week low of $1.35 and a fifty-two week high of $5.20.
NET Power (NYSE:NPWR - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.91) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.84).
Analyst Upgrades and Downgrades
Several analysts have weighed in on NPWR shares. Weiss Ratings upgraded shares of NET Power from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday. Wall Street Zen lowered shares of NET Power from a "sell" rating to a "strong sell" rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, NET Power has a consensus rating of "Hold" and a consensus price target of $3.50.
Check Out Our Latest Research Report on NET Power
Hedge Funds Weigh In On NET Power
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its position in shares of NET Power by 190.0% during the 2nd quarter. Tidal Investments LLC now owns 1,546,562 shares of the company's stock valued at $2,583,000 after acquiring an additional 1,013,309 shares during the period. SIR Capital Management L.P. bought a new position in shares of NET Power in the second quarter worth $183,000. Bank of New York Mellon Corp bought a new position in shares of NET Power in the second quarter worth $140,000. Bank of America Corp DE increased its position in shares of NET Power by 40.1% in the first quarter. Bank of America Corp DE now owns 35,083 shares of the company's stock worth $55,000 after purchasing an additional 10,034 shares during the period. Finally, Renaissance Technologies LLC raised 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 purchasing an additional 609,200 shares in the last quarter. 53.62% of the stock is owned by institutional investors and hedge funds.
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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