NET Power Inc. (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 517,618 Shares

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 517,618 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $7.12, for a total value of $3,685,440.16. Following the sale, the insider now directly owns 199,369 shares of the company’s stock, valued at $1,419,507.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more 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, 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 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 shares were 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 value 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 Up 2.3 %

NPWR opened at $8.16 on Friday. NET Power Inc. has a twelve month low of $6.57 and a twelve month high of $14.98. The firm’s 50-day simple moving average is $7.53 and its 200-day simple moving average is $9.26.

NET Power (NYSE:NPWR) last posted its earnings results on Monday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter. The firm had revenue of $0.24 million for the quarter. Equities analysts expect that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NET Power

Hedge funds have recently added to or reduced their stakes in the company. Pekin Hardy Strauss Inc. raised its holdings in NET Power by 5.4% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 29,365 shares of the company’s stock worth $289,000 after purchasing an additional 1,500 shares during the last quarter. ELCO Management Co. LLC raised its position in shares of NET Power by 13.4% during the 2nd quarter. ELCO Management Co. LLC now owns 20,924 shares of the company’s stock valued at $206,000 after acquiring an additional 2,474 shares during the last quarter. Williams Jones Wealth Management LLC. bought a new position in shares of NET Power in the 1st quarter worth $128,000. K2 Principal Fund L.P. acquired a new stake in shares of NET Power during the first quarter worth $148,000. Finally, XTX Topco Ltd bought a new stake in NET Power in the second quarter valued at about $133,000. Institutional investors own 53.62% of the company’s stock.

Analysts Set New Price Targets

NPWR has been the topic of several recent analyst reports. Citigroup dropped their target price on shares of NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a report 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.

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.