Insider Selling: NET Power Inc. (NYSE:NPWR) Major Shareholder Sells $188,482.00 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 26,926 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $7.00, for a total transaction of $188,482.00. Following the completion of the transaction, the insider now directly owns 73,074 shares in the company, valued at approximately $511,518. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

8 Rivers Capital, Llc also recently made the following trade(s):

• On Monday, September 23rd, 8 Rivers Capital, Llc sold 1,764 shares of NET Power stock. The stock was sold at an average price of $7.00, for a total value of $12,348.00.
• 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

NYSE:NPWR opened at $7.14 on Friday. The firm has a 50-day simple moving average of $8.25 and a 200-day simple moving average of $9.64. NET Power Inc. has a one year low of $6.57 and a one year high of $15.69.

NET Power (NYSE:NPWR) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.06) earnings per share for the quarter. The company had revenue of $0.24 million during the quarter. On average, research analysts forecast that NET Power Inc. will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NPWR shares. Barclays lowered their price objective on NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 14th. Citigroup lowered 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 report on Thursday, September 12th.

Hedge Funds Weigh In On NET Power

A number of large investors have recently made changes to their positions in NPWR. Vanguard Group Inc. grew its position in NET Power by 65.1% during the 1st quarter. Vanguard Group Inc. now owns 2,424,662 shares of the company’s stock worth $27,617,000 after purchasing an additional 956,134 shares during the last quarter. SIR Capital Management L.P. purchased a new position in NET Power during the second quarter valued at approximately $971,000. Berylson Capital Partners LLC purchased a new position in NET Power during the fourth quarter valued at approximately $1,303,000. Encompass Capital Advisors LLC purchased a new stake in NET Power in the 2nd quarter worth approximately $20,537,000. Finally, Swiss National Bank purchased a new stake in NET Power in the 4th quarter worth approximately $275,000. 53.62% of the stock is owned by institutional investors and hedge funds.

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.