NET Power Inc. (NYSE:NPWR) Major Shareholder Sells $562,456.44 in Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 80,122 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $7.02, for a total transaction of $562,456.44. Following the transaction, the insider now owns 342,364 shares in the company, valued at approximately $2,403,395.28. The transaction was disclosed in a legal filing 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.

NET Power Stock Down 1.8 %

NYSE:NPWR opened at $6.94 on Friday. The company has a 50-day moving average of $8.41 and a 200-day moving average of $9.67. NET Power Inc. has a 52 week low of $6.57 and a 52 week high of $16.15.

NET Power (NYSE:NPWR) last announced its quarterly 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. Equities research analysts predict that NET Power Inc. will post -0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

NPWR has been the topic of several research reports. Barclays lowered their price target on NET Power from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 14th. Citigroup lowered their price objective on NET Power from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th.

Hedge Funds Weigh In On NET Power

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank acquired a new position in NET Power during the fourth quarter worth $275,000. Jump Financial LLC bought a new stake in shares of NET Power in the 4th quarter worth about $197,000. Neuberger Berman Group LLC acquired a new stake in shares of NET Power during the 4th quarter worth about $163,000. Berylson Capital Partners LLC acquired a new stake in shares of NET Power during the 4th quarter worth about $1,303,000. Finally, Greenlight Capital Inc. lifted its holdings in 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 purchasing an additional 155,000 shares during the last quarter. 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.