Insider Selling: NET Power Inc. (NYSE:NPWR) Major Shareholder Sells 517,618 Shares of Stock

NET Power Inc. (NYSE:NPWR - Get Free Report) 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 transaction of $3,685,440.16. Following the transaction, the insider now owns 199,369 shares of the company's stock, valued at approximately $1,419,507.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 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, 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 transaction of $329,355.95.
• 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 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 2.3 %

Shares of NPWR stock traded up $0.18 on Friday, hitting $8.16. 799,347 shares of the stock were exchanged, compared to its average volume of 362,400. The business has a 50-day moving average of $7.54 and a 200 day moving average of $9.28. NET Power Inc. has a fifty-two week low of $6.57 and a fifty-two week high of $14.98.

NET Power (NYSE:NPWR - Get Free Report) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.06) earnings per share for the quarter. The firm had revenue of $0.24 million during the quarter. On average, sell-side analysts anticipate that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NPWR shares. Citigroup dropped their target price on NET Power from $11.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, September 12th. Barclays dropped their target price 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.

Institutional Trading of NET Power

Several institutional investors and hedge funds have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. bought a new stake in NET Power in the second quarter valued at approximately $136,000. Encompass Capital Advisors LLC bought a new position in shares of NET Power during the second quarter worth approximately $20,537,000. ELCO Management Co. LLC increased its stake in shares of 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. Squarepoint Ops LLC bought a new position in shares of NET Power during the second quarter worth approximately $470,000. Finally, K2 Principal Fund L.P. increased its stake in shares of NET Power by 153.9% during the second quarter. K2 Principal Fund L.P. now owns 33,037 shares of the company's stock worth $325,000 after purchasing an additional 20,026 shares during the period. Institutional investors own 53.62% of the company's stock.

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.

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