Insider Selling: NET Power Inc. (NYSE:NPWR) Major Shareholder Sells $4,036,674.60 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 320,371 shares of the company’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 value of $4,036,674.60. Following the transaction, the insider now owns 940,049 shares in the company, valued at $11,844,617.40. This trade represents a 25.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 shares were sold at an average price of $7.12, for a total value of $3,685,440.16.
• On Monday, October 7th, 8 Rivers Capital, Llc sold 8,871 shares of NET Power stock. The stock was 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 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 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 Trading Up 0.7 %

NYSE:NPWR opened at $12.64 on Friday. The company’s 50 day moving average price is $8.67 and its 200-day moving average price is $9.19. NET Power Inc. has a 52 week low of $6.57 and a 52 week high of $14.28.

NET Power (NYSE:NPWR) last issued its earnings results on Tuesday, November 12th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.17. During the same period in the previous year, the company earned ($0.44) EPS. Sell-side analysts expect that NET Power Inc. will post -0.4 EPS for the current year.

Institutional Investors Weigh In On NET Power

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in NET Power by 65.1% in the 1st quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock worth $27,617,000 after buying an additional 956,134 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of NET Power in the second quarter worth approximately $20,537,000. Geode Capital Management LLC raised its holdings in shares of NET Power by 21.7% during the third quarter. Geode Capital Management LLC now owns 646,584 shares of the company’s stock valued at $4,535,000 after purchasing an additional 115,189 shares during the last quarter. Marshall Wace LLP lifted its position in NET Power by 226.9% during the second quarter. Marshall Wace LLP now owns 583,688 shares of the company’s stock valued at $5,738,000 after purchasing an additional 405,128 shares during the period. Finally, Khrom Capital Management LLC boosted its holdings in NET Power by 9.6% in the second quarter. Khrom Capital Management LLC now owns 440,596 shares of the company’s stock worth $4,331,000 after purchasing an additional 38,500 shares during the last quarter. 53.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Barclays reduced 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. Citigroup cut their target price on NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, US Capital Advisors raised NET Power to a “strong-buy” rating in a research report on Monday, October 28th.

About NET Power

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.