Nabors Energy Transition Corp. II (NASDAQ:NETD) Short Interest Down 43.8% in August

Key Points

• Short interest for Nabors Energy Transition Corp. II decreased by 43.8% in August, with only 900 shares short sold as of August 15th.
• The company's stock traded down to $11.17, and its price-to-earnings ratio stands at 58.80, indicating high valuation relative to earnings.
• Institutional investors now own 75.52% of the company's stock, reflecting significant interest and investment in Nabors Energy Transition Corp. II.

Nabors Energy Transition Corp. II (NASDAQ:NETD - Get Free Report) was the recipient of a large decline in short interest during the month of August. As of August 15th, there was short interest totaling 900 shares, adeclineof43.8% from the July 31st total of 1,600 shares. Currently,0.0% of the company's stock are short sold. Based on an average daily volume of 157,700 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily volume of 157,700 shares, the days-to-cover ratio is currently 0.0 days. Currently,0.0% of the company's stock are short sold.

Nabors Energy Transition Corp. II Price Performance

NETD traded down $0.14 during trading on Friday, hitting $11.17. The stock had a trading volume of 519 shares, compared to its average volume of 1,980. The company has a 50 day moving average price of $11.21 and a 200-day moving average price of $11.08. The firm has a market cap of $238.50 million, a price-to-earnings ratio of 58.80 and a beta of -0.02. Nabors Energy Transition Corp. II has a one year low of $10.57 and a one year high of $11.47.

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

Insider Buying and Selling at Nabors Energy Transition Corp. II

In other news, major shareholder Mizuho Securities Usa Llc sold 565,000 shares of Nabors Energy Transition Corp. II stock in a transaction that occurred 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 in the company, valued at approximately $13,807,300. The trade was a 31.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 20.00% of the stock is owned by company insiders.

Institutional Trading of Nabors Energy Transition Corp. II

A number of institutional investors have recently modified their holdings of the stock. Wealthspring Capital LLC lifted its position in shares of Nabors Energy Transition Corp. II by 495.8% during the 2nd quarter. Wealthspring Capital LLC now owns 1,560,107 shares of the company's stock valued at $17,317,000 after acquiring an additional 1,298,272 shares during the period. Berkley W R Corp raised its holdings in shares of Nabors Energy Transition Corp. II by 184.8% during the 2nd quarter. Berkley W R Corp now owns 1,542,099 shares of the company's stock worth $17,117,000 after buying an additional 1,000,573 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Nabors Energy Transition Corp. II by 5.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,459,229 shares of the company's stock worth $15,760,000 after buying an additional 75,000 shares in the last quarter. Wolverine Asset Management LLC raised its holdings in shares of Nabors Energy Transition Corp. II by 67.2% during the 2nd quarter. Wolverine Asset Management LLC now owns 1,337,286 shares of the company's stock worth $14,844,000 after buying an additional 537,522 shares in the last quarter. Finally, Toronto Dominion Bank acquired a new position in shares of Nabors Energy Transition Corp. II during the 4th quarter worth $13,661,000. 75.52% of the stock is currently owned by institutional investors.

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.

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