Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. NET Power Inc shares valued at $3,685,595 were sold by NPEH, LLC on Oct 16 ’24. At $7.12 per share, NPEH, LLC sold 517,618 shares. The insider’s holdings dropped to 199,369 shares worth approximately $1.78 million following the completion of this transaction.
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Also, NPEH, LLC sold 199,369 shares, netting a total of over 1,460,737 in proceeds. Following the sale of shares at $7.33 each, the insider now holds 0 shares.
Before that, 8 Rivers Capital, LLC had sold 517,618 shares from its account. In a trade valued at $3,685,595, the 10% Owner traded NET Power Inc shares for $7.12 each. Upon closing the transaction, the insider’s holdings decreased to 517,618 shares, worth approximately $1.78 million.
As published in their initiating research note from Barclays on April 10, 2024, NET Power Inc [NPWR] has been an Equal weight and the price target has been revised to $13. Analysts at Janney started covering the stock with ‘”a Buy”‘ outlook in a report released in mid July. As of July 05, 2023, Citigroup has initiated its “Neutral” rating for NPWR. Earlier on June 29, 2023, CapitalOne initiated its rating. Their recommendation was “an Overweight” for NPWR stock.
Analyzing NPWR Stock Performance
During the last five days, there has been a surge of approximately 24.62%. Over the course of the year, NET Power Inc shares have dropped approximately -11.78%. Shares of the company reached a 52-week high of $12.12 on 05/15/24 and a 52-week low of $6.57 on 09/10/24. A 50-day SMA is recorded $7.55, while a 200-day SMA reached $9.18. Nevertheless, trading volume fell to 1.44 million shares from 0.69 million shares the previous day.
Support And Resistance Levels for NET Power Inc (NPWR)
According to the 24-hour chart, there is a support level at 8.52, which, if violated, would cause prices to drop to 8.13. In the upper region, resistance lies at 9.50. The next price resistance is at 10.09. RSI (Relative Strength Index) is 71.66 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.38, which suggests the price will increase in the coming days. Percent R is at 25.40%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
