Nabors Energy Transition Corp. II $NETD Shares Sold by HGC Investment Management Inc.

Key Points

• HGC Investment Management Inc. significantly reduced its stake in Nabors Energy Transition Corp. II, cutting holdings by 87.7% in the first quarter, now owning only 139,792 shares.
• Other institutional investors have also made moves, with Centiva Capital and D.E. Shaw & Co. increasing their stakes in the company during the fourth quarter.
• Nabors Energy Transition Corp. II's stock value has fluctuated between $10.57 and $11.47 over the past year, with a market capitalization of $241.15 million.

HGC Investment Management Inc. reduced its position in shares of Nabors Energy Transition Corp. II (NASDAQ:NETD - Free Report) by 87.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,792 shares of the company's stock after selling 1,000,000 shares during the quarter. Nabors Energy Transition Corp. II comprises about 0.6% of HGC Investment Management Inc.'s portfolio, making the stock its 29th biggest position. HGC Investment Management Inc. owned 0.37% of Nabors Energy Transition Corp. II worth $1,531,000 at the end of the most recent reporting period.

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

Nabors Energy Transition Corp. II Price Performance

NASDAQ NETD traded down $0.01 during midday trading on Monday, hitting $11.28. 1,726 shares of the company traded hands, compared to its average volume of 214,914. The company has a market cap of $240.83 million, a PE ratio of 59.37 and a beta of -0.02. The company's 50-day simple moving average is $11.21 and its 200-day simple moving average is $11.08. Nabors Energy Transition Corp. II has a 52 week low of $10.57 and a 52 week high of $11.47.

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

Insider Buying and Selling at Nabors Energy Transition Corp. II

In other news, major shareholder Mizuho Securities Usa Llc sold 565,000 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $11.18, for a total value of $6,316,700.00. Following the completion of the sale, the insider owned 1,235,000 shares of the company's stock, valued at $13,807,300. This trade represents a 31.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 20.00% of the stock is owned by insiders.

About Nabors Energy Transition Corp. II

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.