NET Power Inc. (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 320,371 Shares

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 320,371 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $12.60, for a total value of $4,036,674.60. Following the completion of the transaction, the insider now directly owns 940,049 shares in the company, valued at $11,844,617.40. This represents a 25.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major 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 Wednesday, October 16th, 8 Rivers Capital, Llc sold 517,618 shares of NET Power stock. The stock was sold at an average price of $7.12, for a total transaction of $3,685,440.16.
• On Monday, October 7th, 8 Rivers Capital, Llc sold 8,871 shares of NET Power stock. The shares were sold at an average price of $7.01, for a total value of $62,185.71.
• On Thursday, October 3rd, 8 Rivers Capital, Llc sold 10,433 shares of NET Power stock. The stock was sold at an average price of $7.00, for a total transaction of $73,031.00.
• On Monday, September 30th, 8 Rivers Capital, Llc sold 46,585 shares of NET Power stock. The stock was sold at an average price of $7.07, for a total transaction of $329,355.95.
• On Monday, September 23rd, 8 Rivers Capital, Llc sold 1,764 shares of NET Power stock. The shares were sold at an average price of $7.00, for a total transaction of $12,348.00.
• On Friday, September 20th, 8 Rivers Capital, Llc sold 26,926 shares of NET Power stock. The shares were sold at an average price of $7.00, for a total value of $188,482.00.
• On Wednesday, September 18th, 8 Rivers Capital, Llc sold 80,122 shares of NET Power stock. The stock was sold at an average price of $7.02, for a total value of $562,456.44.

NET Power Stock Up 1.5 %

NYSE NPWR traded up $0.19 on Thursday, hitting $12.75. 734,764 shares of the company were exchanged, compared to its average volume of 406,334. NET Power Inc. has a 1-year low of $6.57 and a 1-year high of $14.28. The firm has a 50 day moving average of $8.45 and a two-hundred day moving average of $9.15.

NET Power (NYSE:NPWR) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.17. During the same quarter last year, the company earned ($0.44) earnings per share. On average, research analysts expect that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of NET Power

Hedge funds have recently bought and sold shares of the stock. Pekin Hardy Strauss Inc. grew its position in NET Power by 5.4% in the second quarter. Pekin Hardy Strauss Inc. now owns 29,365 shares of the company’s stock valued at $289,000 after purchasing an additional 1,500 shares in the last quarter. ELCO Management Co. LLC grew its holdings in NET Power by 13.4% during the second quarter. ELCO Management Co. LLC now owns 20,924 shares of the company’s stock worth $206,000 after purchasing an additional 2,474 shares during the period. MetLife Investment Management LLC increased its holdings in shares of NET Power by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 12,922 shares of the company’s stock worth $91,000 after acquiring an additional 7,281 shares during the last quarter. HITE Hedge Asset Management LLC lifted its holdings in NET Power by 2.6% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 387,624 shares of the company’s stock valued at $2,717,000 after purchasing an additional 9,987 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of NET Power during the 3rd quarter worth about $82,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citigroup reduced their price objective on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Barclays cut their price objective on NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 14th. Finally, US Capital Advisors raised shares of NET Power to a “strong-buy” rating in a research report on Monday, October 28th.

NET Power Company Profile

NET Power Inc operates as a clean energy technology company. The company invents, develops, and licenses clean power generation technology. NET Power Inc was founded in 2010 and is headquartered in Durham, North Carolina.