Nabors Energy Transition Corp. II (NASDAQ:NETD) Major Shareholder Sells $6,316,700.00 in Stock

Nabors Energy Transition Corp. II (NASDAQ:NETD - Get Free Report) 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 Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Nabors Energy Transition Corp. II Stock Performance

Shares of NASDAQ:NETD traded up $0.01 during midday trading on Friday, reaching $11.19. The company had a trading volume of 1,410 shares, compared to its average volume of 243,067. 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 $426.56 million, a price-to-earnings ratio of 50.87 and a beta of -0.02. The company has a fifty day simple moving average of $11.10 and a two-hundred day simple moving average of $10.99.

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

Hedge Funds Weigh In On Nabors Energy Transition Corp. II

A number of hedge funds and other institutional investors have recently modified their holdings of NETD. Toronto Dominion Bank acquired a new stake in Nabors Energy Transition Corp. II during the 4th quarter worth about $13,661,000. Millennium Management LLC boosted its position in Nabors Energy Transition Corp. II by 175.0% during the 1st quarter. Millennium Management LLC now owns 550,000 shares of the company's stock worth $6,022,000 after acquiring an additional 350,000 shares during the period. K2 Principal Fund L.P. acquired a new stake in Nabors Energy Transition Corp. II during the 1st quarter worth about $3,285,000. Mizuho Securities USA LLC acquired a new stake in Nabors Energy Transition Corp. II during the 4th quarter worth about $2,954,000. Finally, Alpine Global Management LLC acquired a new stake in Nabors Energy Transition Corp. II during the 1st quarter worth about $2,947,000. Institutional investors and hedge funds own 75.52% of the company's stock.

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.