Nabors Energy Transition Corp. II $NETD Stock Position Decreased by AQR Arbitrage LLC

Key Points

• AQR Arbitrage LLC has significantly reduced its stake in Nabors Energy Transition Corp. II by 77.1%, selling 1,590,000 shares and holding 471,798 shares valued at approximately $5.2 million as of the latest SEC filing.
• Other institutional investors, such as D. E. Shaw & Co. Inc. and Mizuho Securities USA LLC, have also adjusted their positions, with some increasing their stakes, indicating active interest in the company.
• Nabors Energy Transition Corp. II reported an earnings per share (EPS) of $0.06 for the last quarter and has a market cap of approximately $241.26 million.

AQR Arbitrage LLC cut its stake in Nabors Energy Transition Corp. II (NASDAQ:NETD - Free Report) by 77.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 471,798 shares of the company's stock after selling 1,590,000 shares during the period. AQR Arbitrage LLC owned approximately 1.24% of Nabors Energy Transition Corp. II worth $5,166,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NETD. Toronto Dominion Bank acquired a new stake in shares of Nabors Energy Transition Corp. II in the fourth quarter worth approximately $13,661,000. Alpine Global Management LLC acquired a new position in shares of Nabors Energy Transition Corp. II during the first quarter worth $2,947,000. Centiva Capital LP bought a new stake in shares of Nabors Energy Transition Corp. II in the fourth quarter worth $1,959,000. Wolverine Asset Management LLC increased its stake in Nabors Energy Transition Corp. II by 26.1% during the first quarter. Wolverine Asset Management LLC now owns 799,764 shares of the company's stock valued at $8,757,000 after purchasing an additional 165,290 shares during the last quarter. Finally, Mizuho Securities USA LLC increased its stake in Nabors Energy Transition Corp. II by 49.0% during the first quarter. Mizuho Securities USA LLC now owns 408,804 shares of the company's stock valued at $4,456,000 after purchasing an additional 134,501 shares during the last quarter. 75.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Nabors Energy Transition Corp. II

In other news, major shareholder Mizuho Securities Usa Llc sold 565,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $11.18, for a total transaction of $6,316,700.00. Following the completion of the transaction, the insider owned 1,235,000 shares in the company, valued at approximately $13,807,300. This represents a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 20.00% of the company's stock.

Nabors Energy Transition Corp. II Stock Performance

Shares of Nabors Energy Transition Corp. II stock traded up $0.01 during trading on Monday, hitting $11.30. 1,551 shares of the stock were exchanged, compared to its average volume of 214,913. The stock's fifty day moving average is $11.21 and its 200 day moving average is $11.08. The stock has a market cap of $241.26 million, a PE ratio of 59.48 and a beta of -0.02. Nabors Energy Transition Corp. II has a 12 month low of $10.57 and a 12 month high of $11.47.

Nabors Energy Transition Corp. II (NASDAQ:NETD - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.06 EPS for the quarter.

Nabors Energy Transition Corp. II Company Profile

Nabors Energy Transition Corp. II focuses on effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company intends to identify solutions, opportunities, companies, or technologies that focus on advancing the energy transition that facilitate, improve, or complement the reduction of carbon or greenhouse gas emissions.