Nabors Energy Transition Corp. II (NASDAQ:NETD) Releases Earnings Results

Key Points

• Nabors Energy Transition Corp. II reported an earnings per share (EPS) of $0.06 for the quarter, indicating a modest performance.
• The company's stock price rose slightly to $11.31 following its earnings release, with a current market cap of $431.29 million.
• Institutional investors hold a significant stake of 75.52% in Nabors Energy Transition Corp. II, with notable increases in holdings from companies like Millennium Management LLC.

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

Nabors Energy Transition Corp. II Stock Performance

Shares of NASDAQ:NETD remained flat at $11.25 during midday trading on Thursday. 75 shares of the company were exchanged, compared to its average volume of 17,696. The stock has a 50-day simple moving average of $11.17 and a 200 day simple moving average of $11.05. The stock has a market capitalization of $428.85 million, a PE ratio of 59.10 and a beta of -0.02. Nabors Energy Transition Corp. II has a 52 week low of $10.57 and a 52 week high of $11.47.

Insider Transactions at Nabors Energy Transition Corp. II

In other Nabors Energy Transition Corp. II news, major shareholder Mizuho Securities Usa Llc sold 565,000 shares of the stock in a transaction on Tuesday, July 22nd. The stock was 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 directly owned 1,235,000 shares of the company's stock, valued at approximately $13,807,300. This represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 20.00% of the company's stock.

Institutional Investors Weigh In On Nabors Energy Transition Corp. II

Several institutional investors have recently made changes to their positions in the stock. Shaolin Capital Management LLC grew its position in shares of Nabors Energy Transition Corp. II by 100.0% in the second quarter. Shaolin Capital Management LLC now owns 200,000 shares of the company's stock valued at $2,220,000 after purchasing an additional 100,000 shares in the last quarter. Radcliffe Capital Management L.P. bought a new position in Nabors Energy Transition Corp. II in the 2nd quarter worth about $2,775,000. Finally, Millennium Management LLC boosted its stake in Nabors Energy Transition Corp. II by 175.0% in the 1st quarter. Millennium Management LLC now owns 550,000 shares of the company's stock worth $6,022,000 after purchasing an additional 350,000 shares during the period. Hedge funds and other institutional investors own 75.52% of the company's stock.

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.