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NET Power Inc.: what insiders have been doing
NET Power Inc. is a Energy company. Its directors and officers file their transactions with SEC (Form 4). In the past year (18 October 2025 to 18 October 2026), 54 filings came from 7 insiders.
The flow runs one way only: 42 sales worth €9.9M, from 2 insiders, and no purchase. At €902k, the sale published on 27 October 2025 by Npeh, LLC is the largest of the period.
The median gap between a trade and its publication by SEC (Form 4) is 2 days. The legal deadline for a Form 4 is two business days after the transaction. A sale on its own says little: insiders also sell to pay tax, fund a purchase or diversify.
Compared with its exchange (5,814 companies, median 19 filings), a count of 54 filings is above the norm. The full history, which starts in 2023, counts no purchases against 61 sales. For the fiscal year to 31 December 2025, the annual 10-K puts net income at -578.6 m USD.
Other companies in the same sector with recent insider buying flagged by our signals: RGC Resources Inc and Empire Petroleum Corp. These figures are compiled from regulatory filings published by SEC (Form 4). They describe what insiders did and are not a recommendation.
Insider Decl.
169
Thresholds
n/a
Buy Volume
n/a
n/a
Sell Volume
€53M
61 ops. · all time
Who traded when
BuySale8 Rivers Capital, LLC43 sales
Npeh, LLC40 sales
Cynda Beauchamp1 sale
SK Inc.1 sale
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Financial data
as of FY 2025FY ended December 2025 · cache
US$1.09
Analyst consensus
5 analysts1.40/5
US$2.50Target US$2.85(+161%)US$3.50
Income statement
EBITDA-US$217.1M
Net income-US$578.6M0.0% margin
Valuation
PER (forward)-14.0x
P/Book1.2x
Beta1.17
Balance sheet & cash
Market capUS$96.4M
Total debtUS$3.8M
Free Cash Flow-US$155.2M
Debt / Equity1%
Profitability & ownership
ROE-142.0%
ROA-10.6%
% insiders47.4%
% institutions44.7%
Last declaration on 8 October 2026
Declarations169 total
529,801 shares0Restricted Stock UnitsSEC:0001104659-26-114715:0
100,000 shares@ US$1.93520.13% mcap2.1% of flowClass A Common StockSEC:0001104659-26-106788:0
150,000 shares@ US$1.84050.19% mcap3.0% of flowClass A Common StockSEC:0001104659-26-106788:1
71,770 shares0Restricted Stock UnitsSEC:0001358507-26-000003:0
71,770 shares0Restricted Stock UnitsSEC:0001464551-26-000006:0
71,770 shares0Restricted Stock UnitsSEC:0001564633-26-000002:0
71,770 shares0Restricted Stock UnitsSEC:0001973456-26-000007:0
201,550 shares@ US$1.90650.26% mcap4.2% of flowClass A Common StockSEC:0001104659-26-102532:0
41,350 shares@ US$1.91240.053% mcap0.9% of flowClass A Common StockSEC:0001104659-26-102532:1
50,000 shares@ US$1.63150.056% mcap0.9% of flowClass A Common StockSEC:0001104659-26-097369:0
200,000 shares@ US$1.61920.22% mcap3.6% of flowClass A Common StockSEC:0001104659-26-097369:1
507,100 shares@ US$1.95330.68% mcap10.9% of flowClass A Common StockSEC:0001104659-26-097369:2
60,345 shares@ US$1.52590.063% mcap1.0% of flowClass A Common StockSEC:0001104659-26-094206:0
55,400 shares@ US$1.55370.059% mcap0.9% of flowClass A Common StockSEC:0001104659-26-094206:1
35,000 shares@ US$1.59970.038% mcap0.6% of flowClass A Common StockSEC:0001104659-26-094206:2
25 of 169 declarations
About NET Power Inc.
NET Power Inc. (ticker: NPWR) is a U.S.-based energy technology company listed on the NYSE in the United States. The company is focused on developing and commercializing a power-generation platform designed to deliver low-emissions, utility-scale electricity with the operational characteristics of baseload generation. Its corporate headquarters are in Durham, North Carolina, and it also maintains a second corporate office in Houston, Texas. Net Power is structured as a holding company with its economic exposure primarily through its operating entity, OpCo. ([fintel.io](https://fintel.io/doc/sec-net-power-inc-1845437-10k-2026-march-09-20521-4549))
The company’s roots go back to the 2010s, when its technology platform was developed with support from industrial and energy-sector partners. The current public company was formed after the completion of a business combination with Rice Acquisition Corp. II in June 2023, which brought NPWR to the New York Stock Exchange and provided more than $675 million of gross proceeds to support commercialization. That transaction also marked the formal transition from a private technology developer to a public market vehicle pursuing industrial deployment. ([ir.netpower.com](https://ir.netpower.com/resources/press-releases/detail/18/net-power-completes-merger-with-rice-acquisition-corp-ii-to-accelerate-clean-natural-gas-power-generation))
Read moreShow less
Operationally, Net Power is not a traditional independent power producer. Its core business is technology development: it seeks to commercialize the Oxy-Combustion Cycle, a proprietary process that combines natural gas-fired generation with integrated CO2 capture. Management has described the platform as an attempt to deliver power that is clean, affordable, and reliable at utility scale. In 2025, the company broadened its product strategy by introducing an integrated offering that pairs the Oxy-Combustion Cycle with gas turbines, with the goal of improving cost competitiveness and shortening the path to market. ([ir.netpower.com](https://ir.netpower.com/resources/press-releases/detail/18/net-power-completes-merger-with-rice-acquisition-corp-ii-to-accelerate-clean-natural-gas-power-generation))
In competitive terms, NPWR occupies a specialized niche in the energy transition landscape. Its differentiation comes from its proprietary intellectual property, its industrial partnerships, and its potential relevance for large-scale decarbonized power generation. Strategic stakeholders have included Occidental, Baker Hughes, Constellation, and 8 Rivers. Historically, the company has targeted its first standardized utility-scale project in the Permian Basin area of West Texas, while also discussing broader deployment opportunities abroad, including Asia through an earlier planned joint venture. ([ir.netpower.com](https://ir.netpower.com/resources/press-releases/detail/18/net-power-completes-merger-with-rice-acquisition-corp-ii-to-accelerate-clean-natural-gas-power-generation))
Recent developments suggest a more cautious execution backdrop. The company’s 2025 annual report indicated slower-than-expected customer acceptance of its technology and disclosed a significant impairment charge tied to the developed technology asset group. In January 2026, Net Power also agreed to suspend its Baker Hughes joint development arrangement temporarily while the parties evaluate amendments and the path forward for industrial-scale commercialization. For investors, that means the equity story remains highly dependent on successful technical validation, project execution, and partner alignment. ([fintel.io](https://fintel.io/doc/sec-net-power-inc-1845437-10k-2026-march-09-20521-4549))
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