Picton Mahoney Asset Management Sells 500,000 Shares of Nabors Energy Transition Corp. II (NASDAQ:NETD)

Key Points

• Picton Mahoney Asset Management sold 500,000 shares of Nabors Energy Transition Corp. II, reducing its holdings by 35.7% to approximately 900,000 shares.
• Toronto Dominion Bank and several other hedge funds have increased their investments in the company during the 4th quarter, demonstrating ongoing institutional interest.
• Nabors Energy Transition Corp. II reported $0.02 earnings per share for the quarter ended May 14th, indicating modest financial performance amid market changes.

Picton Mahoney Asset Management lessened its stake in Nabors Energy Transition Corp. II (NASDAQ:NETD - Free Report) by 35.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 900,000 shares of the company's stock after selling 500,000 shares during the quarter. Picton Mahoney Asset Management owned 2.36% of Nabors Energy Transition Corp. II worth $9,855,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Toronto Dominion Bank purchased a new stake in shares of Nabors Energy Transition Corp. II in the fourth quarter valued at approximately $13,661,000. D. E. Shaw & Co. Inc. increased its stake in Nabors Energy Transition Corp. II by 5.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,459,229 shares of the company's stock worth $15,760,000 after acquiring an additional 75,000 shares during the last quarter. Centiva Capital LP purchased a new stake in shares of Nabors Energy Transition Corp. II in the fourth quarter worth about $1,959,000. Bulldog Investors LLP boosted its position in shares of Nabors Energy Transition Corp. II by 14.0% in the fourth quarter. Bulldog Investors LLP now owns 281,360 shares of the company's stock worth $3,043,000 after buying an additional 34,454 shares during the period. Finally, Berkley W R Corp boosted its holdings in Nabors Energy Transition Corp. II by 15.7% in the fourth quarter. Berkley W R Corp now owns 565,987 shares of the company's stock valued at $6,113,000 after purchasing an additional 76,721 shares during the last quarter. Institutional investors and hedge funds own 75.52% of the company's stock.

Nabors Energy Transition Corp. II Stock Performance

Shares of Nabors Energy Transition Corp. II stock traded up $0.04 on Friday, reaching $11.29. 30,050 shares of the company were exchanged, compared to its average volume of 235,512. 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 cap of $430.18 million, a price-to-earnings ratio of 51.30 and a beta of -0.02. The company's 50-day moving average is $11.11 and its two-hundred day moving average is $11.01.

Nabors Energy Transition Corp. II (NASDAQ:NETD - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported $0.02 earnings per share for the quarter.

Insiders Place Their Bets

In other news, major shareholder Mizuho Securities Usa Llc sold 565,000 shares of Nabors Energy Transition Corp. II stock in a transaction dated 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 transaction, the insider directly owned 1,235,000 shares in the company, valued at approximately $13,807,300. The trade was a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 20.00% of the stock is currently owned by company insiders.

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.