8 Rivers Capital, LLC, a major shareholder of NET Power Inc. (NYSE: NPWR), has sold 100,000 shares of the company’s stock in a transaction that took place on December 22, 2023. The shares were sold at an average price of $2.26, resulting in a total transaction value of $226,000.
Following this sale, 8 Rivers Capital holds 2,350,000 shares of NET Power, now valued at approximately $5.31 million. This sale represents a 4.08% decrease in their ownership stake. The transaction was reported in a filing with the Securities and Exchange Commission (SEC), which oversees disclosures from large shareholders.
Market Response and Performance
On December 23, 2023, NET Power shares opened at $2.17, reflecting a decline of 1.9%. The company’s fifty-day moving average price is noted at $3.07, while the two-hundred-day average is $2.86. NET Power currently has a market capitalization of $481.60 million and a price-to-earnings ratio of -0.28, with a beta of 0.80. Over the past year, the stock has seen a low of $1.48 and a high of $11.83.
Institutional Investment Trends
Recent trading activity reveals significant changes in institutional holdings of NET Power. For instance, Stonegate Investment Group LLC increased its stake by 20.0% during the third quarter, now owning 30,000 shares valued at $90,000. Another notable investor, JPMorgan Chase & Co., raised its position by 48.7% in the second quarter, acquiring a total of 16,047 shares worth $40,000.
Additionally, Deutsche Bank AG raised its holdings by 63.0% in the first quarter, purchasing 14,051 shares for approximately $37,000. Other institutional investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and Engineers Gate Manager LP, have also increased their stakes significantly. Currently, institutional investors own 53.62% of NET Power’s stock.
Analysts Adjust Price Targets
Amid these changes, analysts have recently adjusted their price targets for NET Power. Citigroup lowered its target from $6.00 to $4.00, maintaining a “buy” rating for the stock. Meanwhile, Barclays upgraded its rating from “underweight” to “equal weight,” increasing the target price from $2.00 to $3.00.
Furthermore, Weiss Ratings reaffirmed a “sell (d-)” rating for the company. Currently, NET Power has an average rating of “Hold” from analysts, with a consensus price target of $3.50, according to data from MarketBeat.
About NET Power Inc.
NET Power Inc. specializes in innovative energy technology, focusing on the development and commercialization of power generation plants that utilize natural gas and other fuels with near-zero carbon emissions. The company’s flagship innovation is the proprietary Allam-Fetvedt Cycle, a supercritical carbon dioxide power cycle that captures all carbon dioxide produced during combustion without the need for additional carbon capture systems. This technology aims to offer baseload power with competitive efficiency and emissions profiles compared to conventional and renewable energy sources.
Since demonstrating its first full-scale Allam-Cycle facility in La Porte, Texas, NET Power has progressed from pilot operations toward commercial deployment, positioning itself as a key player in the transition to cleaner energy solutions.
