K2 Principal Fund L.P. Makes New $3.29 Million Investment in Nabors Energy Transition Corp. II $NETD

Key Points

• K2 Principal Fund L.P. has made a new investment of approximately $3.29 million in Nabors Energy Transition Corp. II by acquiring 300,000 shares.
• Institutional investors currently own approximately 75.52% of Nabors Energy Transition Corp. II, indicating strong interest in the company.
• Mizuho Securities USA LLC notably reduced its ownership by selling 565,000 shares, resulting in a 31.39% decrease in their stake.

K2 Principal Fund L.P. bought a new stake in Nabors Energy Transition Corp. II (NASDAQ:NETD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 300,000 shares of the company's stock, valued at approximately $3,285,000. K2 Principal Fund L.P. owned about 0.79% of Nabors Energy Transition Corp. II at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank bought a new position in Nabors Energy Transition Corp. II in the 4th quarter worth approximately $13,661,000. Alpine Global Management LLC acquired a new position in shares of Nabors Energy Transition Corp. II in the 1st quarter valued at $2,947,000. Wolverine Asset Management LLC grew its holdings in shares of Nabors Energy Transition Corp. II by 26.1% in the 1st quarter. Wolverine Asset Management LLC now owns 799,764 shares of the company's stock valued at $8,757,000 after buying an additional 165,290 shares during the period. Mizuho Securities USA LLC grew its holdings in shares of Nabors Energy Transition Corp. II by 49.0% in the 1st quarter. Mizuho Securities USA LLC now owns 408,804 shares of the company's stock valued at $4,456,000 after buying an additional 134,501 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its stake in Nabors Energy Transition Corp. II by 5.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,459,229 shares of the company's stock worth $15,760,000 after purchasing an additional 75,000 shares during the period. Institutional investors own 75.52% of the company's stock.

Insider Buying and Selling

In related 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 value of $6,316,700.00. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 20.00% of the company's stock.

Nabors Energy Transition Corp. II Stock Performance

NASDAQ NETD traded down $0.07 on Wednesday, reaching $11.22. The company had a trading volume of 24 shares, compared to its average volume of 2,087. The company's fifty day moving average is $11.21 and its 200-day moving average is $11.08. Nabors Energy Transition Corp. II has a 1-year low of $10.57 and a 1-year high of $11.47. The firm has a market capitalization of $239.44 million, a price-to-earnings ratio of 59.03 and a beta of -0.02.

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

Nabors Energy Transition Corp. II 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.