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SK Inc., a ten percent owner of NET Power Inc. (NPWR), has sold 2,500,000 shares of Class A Common Stock at a price of $2.61, in a transaction valued at $6,525,000. The sale comes as NPWR, currently valued at $626.5 million, trades near $2.86 per share. According to InvestingPro analysis, the company maintains a strong cash position despite challenging market conditions.
The transaction, which occurred on July 15, 2025, was executed by Tillandsia, Inc., a wholly owned subsidiary of SK Inc., through a block trade managed by Citigroup (NYSE:C) Global Markets Inc. Following the sale, SK Inc., through its subsidiary Tillandsia, no longer holds any shares of NET Power Inc. The stock has experienced significant volatility, declining 69% over the past six months, though InvestingPro indicates the stock may be undervalued at current levels.
The sale was disclosed in a Form 4 filing with the Securities and Exchange Commission. NPWR’s next earnings report is scheduled for August 18, 2025, with InvestingPro offering 14 additional key insights about the company’s financial health and market position.
In other recent news, NET Power Inc. reported a significant miss in its first-quarter 2025 earnings, with earnings per share (EPS) coming in at -$1.55, falling well below the forecasted -$0.15. Despite this earnings shortfall, the company maintains a strong cash position of $500 million and aims to end the year with $350 million. The company is advancing its clean energy technology and cost reduction initiatives, focusing on improving project economics for its utility-scale plants. Additionally, strategic investors hold an 85% equity stake in NET Power, which may contribute to investor confidence despite the earnings miss. In another development, Eunkyung Sung has resigned from the board of directors, effective immediately, with no disagreements cited with the company’s management. The resignation was disclosed in a Form 8-K filing with the Securities and Exchange Commission. These recent developments highlight ongoing changes and challenges within NET Power as it continues to focus on strategic advancements in clean energy.
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