Nabors Energy Transition Corp. II (NASDAQ:NETD) Short Interest Down 22.2% in August

Key Points

• Nabors Energy Transition Corp. II experienced a 22.2% decline in short interest during August, with total short interest dropping to 700 shares as of August 31st.
• The company's stock opened at $11.24, with a market cap of approximately $239.87 million and a P/E ratio of 59.13.
• Significant institutional investments included Virtu Financial increasing its holdings by 319.4%, and Clear Street LLC by 116,901.2%, indicating strong confidence in the company.

Nabors Energy Transition Corp. II (NASDAQ:NETD - Get Free Report) saw a large decline in short interest in August. As of August 31st, there was short interest totaling 700 shares, a decline of 22.2% from the August 15th total of 900 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 145,100 shares, the short-interest ratio is currently 0.0 days. Based on an average daily volume of 145,100 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the shares of the stock are sold short.

Insider Activity at Nabors Energy Transition Corp. II

In related news, major shareholder Mizuho Securities Usa Llc sold 565,000 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $11.18, for a total transaction of $6,316,700.00. Following the transaction, the insider 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 filing with the SEC, which is available at the SEC website. 20.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nabors Energy Transition Corp. II

Hedge funds have recently modified their holdings of the stock. Wolverine Asset Management LLC raised its stake in 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 worth $8,757,000 after purchasing an additional 165,290 shares in the last quarter. Toronto Dominion Bank bought a new stake in Nabors Energy Transition Corp. II during the fourth quarter worth $13,661,000. Virtu Financial LLC boosted its holdings in shares of Nabors Energy Transition Corp. II by 319.4% in the 1st quarter. Virtu Financial LLC now owns 43,976 shares of the company's stock worth $482,000 after buying an additional 33,490 shares during the last quarter. K2 Principal Fund L.P. purchased a new stake in Nabors Energy Transition Corp. II in the 1st quarter worth about $3,285,000. Finally, Alpine Global Management LLC bought a new stake in shares of Nabors Energy Transition Corp. II during the 1st quarter valued at $2,947,000. Institutional investors own 75.52% of the company's stock.

Nabors Energy Transition Corp. II Price Performance

Shares of NASDAQ NETD traded up $0.07 during midday trading on Friday, reaching $11.32. 401 shares of the company traded hands, compared to its average volume of 3,825. The stock has a 50-day moving average price of $11.24 and a 200 day moving average price of $11.10. Nabors Energy Transition Corp. II has a 52 week low of $10.64 and a 52 week high of $11.47. The company has a market cap of $241.68 million, a price-to-earnings ratio of 59.58 and a beta of -0.02.

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

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.