Executives from SK Inc. and 8 Rivers Capital, LLC have recently sold a significant number of shares in NET Power Inc. (NYSE:NPWR), according to the latest SEC filings. The transactions, which occurred over a three-day period, resulted in the sale of NET Power Inc. shares with a total value exceeding $6.8 million.
The sales were carried out at varying prices, with a range between $7.0211 and $7.0568 per share. On the first day of the reported transactions, 144,959 shares were sold at a weighted average price of $7.0392. The following day, an additional 80,122 shares were traded at an average of $7.0211 per share. The sales continued on the third day, with two separate transactions: one for 342,364 shares at $7.0568 per share, and another for 400,000 shares at an average price of $7.0509.
Combined, these sales represent a significant divestment from NET Power Inc. by the executives of SK Inc. and 8 Rivers Capital, with the total number of shares sold amounting to a substantial portion of their holdings in the company. The filings indicate that following these transactions, the ownership stakes of the executives have been reduced, with one transaction resulting in a complete exit from the reporting owner’s position.
It is important to note that the exact number of shares sold at each separate price within the provided range is available upon request to the SEC, the issuer, or any security holder of the issuer, as stated in the footnotes of the SEC filing.
The reported transactions were signed off by Asheley Kinsey, Chief Financial Officer of 8 Rivers Capital, LLC, and Munhyuk Jang, Head of Corporate Management Department of SK Inc., indicating their official capacity and involvement in the reported sales.
Investors and market watchers often keep a close eye on insider transactions as they may provide insights into the executives’ perspective on the company’s current valuation and future prospects. The recent sales by SK Inc. and 8 Rivers Capital executives are no exception and will likely be of interest to those following NET Power Inc.’s stock performance.
In other recent news, NET Power, a clean power technology firm, has been experiencing substantial developments. Citi recently revised its price target for NET Power, reducing it to $8.00 from the previous $11.00, while maintaining a Neutral rating on the stock. This adjustment came after a visit to NET Power’s La Porte demonstration facility, where an increase in perceived execution risk was noted,…
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