NPEH, LLC sells shares of NET Power Inc. worth over $285,000 Via Investing.com

NPEH, LLC, a majority shareholder of NET Power Inc. (NYSE:NPWR), recently sold a sizable number of shares in the company, according to the latest filings. The transactions, which took place over several days, resulted in a total sale value of more than $285,000.

Sales took place on September 12, 13 and 16, with prices ranging from $7.0506 to $7.2635 per share. On September 12, a total of 2,315 shares were sold at a weighted average price of $7.2635, followed by 1,340 shares on September 13 at an average price of $7.2596. The largest sale occurred on September 16, with 36,752 shares exchanged at a weighted average price of $7.0506.

These transactions reduced NPEH, LLC’s ownership of NET Power Inc., an innovative energy company specializing in industrial electrical appliances, bringing their ownership following the sales to 67,445 shares of Class A common stock.

In a separate transaction on September 16, NPEH, LLC exchanged 500,000 Class A units of Net Power Operations LLC for an equivalent number of Class A common shares of NET Power Inc. This exchange did not involve a cash transaction and the price per share was set at $0. Corresponding to this exchange of units, an equal number of Class B shares, which have no economic value, were cancelled.

The price ranges for the sales were disclosed in the footnotes to the filing, with the reporting person offering to provide full details of the number of shares sold at each price separately upon request.

These trades provide a glimpse into the trading activity of NET Power Inc’s major shareholders. and provides investors with an update on the latest ownership changes.

In other recent news, NET Power, a pioneer in low-carbon power generation technology, has been the subject of recent developments. Citi, in its latest review, revised its price target on NET Power from $11.00 to $8.00, maintaining a neutral rating on the stock. The decision was influenced by a perceived increase in execution risk and a higher cost of capital following their visit to NET Power’s La Porte demonstration facility.

At the same time, NET Power backed up its Q2 2024 earnings call, highlighting progress in their clean energy technology. The company confirmed that Project Permian, their first utility-scale plant, is scheduled to start up between late 2027 and early 2028. The firm ended the quarter with $609 million in cash investments and expects cash flow growth used in operations because of the organization. expansion.

NET Power aims to achieve a levelized cost of electricity (LCOE) of $60 per megawatt hour in North America and is entering into strategic supply chain partnerships to deploy more plants annually by the early 2030s. The company is exploring, from also financing opportunities for the Permian plant, including potential federal or state capital. These developments highlight NET Power’s continued efforts in the clean energy sector.

InvestingPro Insights

Given the recent sales of NPEH, LLC, investors in NET Power Inc. (NYSE:NPWR) could consider the company’s financial health and market performance. Here are some insights that might help assess the current state of NET Power:

InvestingPro data reveals a challenging financial position for NET Power Inc. with a negative gross profit margin of -710.08% for the trailing twelve months to Q2 2024. This indicates that the company spent more to produce its goods or services than it is. was able to recover through sales, aligning with one of InvestingPro’s tips that NPWR is suffering from weak gross margins.

In addition, NET Power shares have experienced significant price volatility. Over the past year, the price has fallen -56.45% and is currently trading near its 52-week low, 42.9% from its high. This is consistent with another InvestingPro tip that stock prices often move in the opposite direction of the market, which could be a concern for investors looking for stability or growth.

Despite these challenges, NET Power holds more cash than debt on its balance sheet, which is a positive sign of liquidity and could provide some cushion against financial strains. This is also supported by the company’s liquidity position, where its liquid assets exceed short-term liabilities.

For investors seeking deeper analysis, additional InvestingPro Tips are available, providing a comprehensive look at NET Power’s performance metrics and market position. There are 12 more tips listed on InvestingPro for NET Power Inc., accessible at: https://www.investing.com/pro/NPWR

With these insights, stakeholders can better assess the implications of recent insider trades and the potential trajectory of NET Power Inc. in the energy sector.

This article was generated with support from AI and reviewed by an editor. For more information, see T&C.