Insider Selling: NET Power Inc. (NYSE:NPWR) Major Shareholder Sells 83,325 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder Npeh, Llc sold 83,325 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $8.10, for a total transaction of $674,932.50. Following the sale, the insider now directly owns 416,675 shares of the company’s stock, valued at $3,375,067.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Npeh, Llc also recently made the following trade(s):

• On Friday, September 6th, Npeh, Llc sold 66,825 shares of NET Power stock. The shares were sold at an average price of $7.88, for a total value of $526,581.00.

NET Power Trading Down 1.3 %

NYSE:NPWR opened at $7.84 on Friday. The stock has a fifty day simple moving average of $8.86 and a 200 day simple moving average of $9.73. NET Power Inc. has a 1-year low of $7.55 and a 1-year high of $17.62.

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 anticipate that NET Power Inc. will post -0.21 EPS for the current year.

Institutional Trading of NET Power

A number of hedge funds have recently modified their holdings of NPWR. Pekin Hardy Strauss Inc. raised its position in NET Power by 5.4% during the second quarter. Pekin Hardy Strauss Inc. now owns 29,365 shares of the company’s stock valued at $289,000 after buying an additional 1,500 shares during the period. ELCO Management Co. LLC grew its stake in 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of NET Power in the 4th quarter valued at about $31,000. Palo Duro Investment Partners LP lifted its position in shares of NET Power by 4.3% in the fourth quarter. Palo Duro Investment Partners LP now owns 139,417 shares of the company’s stock worth $1,408,000 after purchasing an additional 5,803 shares in the last quarter. Finally, Williams Jones Wealth Management LLC. acquired a new stake in shares of NET Power during the first quarter worth approximately $128,000. Hedge funds and other institutional investors own 53.62% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barclays reduced 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.

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.