Insider Selling: NET Power Inc. (NYSE:NPWR) Major Shareholder Sells 80,122 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 80,122 shares of NET Power stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $7.02, for a total value of $562,456.44. Following the transaction, the insider now directly owns 342,364 shares in the company, valued at $2,403,395.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

NET Power Trading Up 5.2 %

Shares of NYSE:NPWR traded up $0.35 during midday trading on Thursday, reaching $7.07. The company had a trading volume of 1,458,012 shares, compared to its average volume of 355,270. The company has a fifty day simple moving average of $8.47 and a two-hundred day simple moving average of $9.67. NET Power Inc. has a 1-year low of $6.57 and a 1-year high of $16.34.

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

Hedge Funds Weigh In On NET Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in NPWR. Swiss National Bank acquired a new stake in NET Power during the 4th quarter worth about $275,000. Jump Financial LLC acquired a new position in NET Power in the 4th quarter valued at approximately $197,000. Neuberger Berman Group LLC purchased a new stake in NET Power in the 4th quarter worth approximately $163,000. Berylson Capital Partners LLC purchased a new stake in NET Power in the 4th quarter worth approximately $1,303,000. Finally, Greenlight Capital Inc. boosted its stake in shares of NET Power by 5.5% during the 4th quarter. Greenlight Capital Inc. now owns 2,992,110 shares of the company’s stock valued at $30,220,000 after buying an additional 155,000 shares during the period. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays reduced their target price on shares of NET Power from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, August 14th. Citigroup cut their price objective 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.

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.