Nabors Energy Transition Corp. II (NASDAQ:NETD) Sees Significant Decrease in Short Interest

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 drop in short interest in August. As of August 15th, there was short interest totaling 900 shares, a drop of 43.8% from the July 31st total of 1,600 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 157,700 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily volume of 157,700 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are sold short.

Insider Buying and Selling 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 firm's stock in a transaction on 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 sale, the insider owned 1,235,000 shares of the company's stock, valued at approximately $13,807,300. This trade represents a 31.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 20.00% of the company's stock.

Hedge Funds Weigh In On Nabors Energy Transition Corp. II

Several hedge funds have recently modified their holdings of NETD. Virtu Financial LLC grew its stake in 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 valued at $482,000 after buying an additional 33,490 shares in the last quarter. Clear Street LLC raised its stake in shares of Nabors Energy Transition Corp. II by 116,901.2% during the second quarter. Clear Street LLC now owns 98,281 shares of the company's stock valued at $1,091,000 after acquiring an additional 98,197 shares during the last quarter. Shaolin Capital Management LLC raised its stake in 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 worth $2,220,000 after buying 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 second quarter worth about $2,775,000. Finally, Alpine Global Management LLC bought a new position in Nabors Energy Transition Corp. II in the first quarter worth about $2,947,000. Institutional investors own 75.52% of the company's stock.

Nabors Energy Transition Corp. II Stock Down 0.1%

Shares of NETD stock traded down $0.01 during trading hours on Thursday, reaching $11.27. The company's stock had a trading volume of 415 shares, compared to its average volume of 213,548. Nabors Energy Transition Corp. II has a fifty-two week low of $10.64 and a fifty-two week high of $11.47. The company has a market capitalization of $240.61 million, a price-to-earnings ratio of 59.32 and a beta of -0.02. The firm's 50 day simple moving average is $11.22 and its 200-day simple moving average is $11.08.

Nabors Energy Transition Corp. II (NASDAQ:NETD - Get Free Report) last announced its quarterly 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.