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

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 320,371 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $12.60, for a total transaction of $4,036,674.60. Following the completion of the sale, the insider now owns 940,049 shares of the company’s stock, valued at approximately $11,844,617.40. The trade was a 25.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more 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, 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 shares were sold at an average price of $7.00, for a total value 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 value 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 value of $12,348.00.
• On Friday, September 20th, 8 Rivers Capital, Llc sold 26,926 shares of NET Power stock. The stock was sold at an average price of $7.00, for a total transaction of $188,482.00.
• On Wednesday, September 18th, 8 Rivers Capital, Llc sold 80,122 shares of NET Power stock. The shares were sold at an average price of $7.02, for a total transaction of $562,456.44.

NET Power Stock Performance

Shares of NYSE NPWR opened at $12.64 on Friday. The firm has a fifty day simple moving average of $8.56 and a two-hundred day simple moving average of $9.18. NET Power Inc. has a 12 month low of $6.57 and a 12 month high of $14.28.

NET Power (NYSE:NPWR) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.17. During the same quarter in the prior year, the company earned ($0.44) earnings per share. As a group, analysts predict that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in NET Power by 65.1% during the first quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock valued at $27,617,000 after buying an additional 956,134 shares during the period. K2 Principal Fund L.P. bought a new position in shares of NET Power in the 1st quarter worth about $148,000. Bank of New York Mellon Corp purchased a new position in NET Power during the 2nd quarter valued at about $662,000. Summit Securities Group LLC bought a new stake in NET Power during the second quarter worth about $268,000. Finally, Rhumbline Advisers purchased a new stake in NET Power in the second quarter worth about $282,000. Hedge funds and other institutional investors own 53.62% of the company’s stock.

Analyst Ratings Changes

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

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.