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

Key Points

• Nabors Energy Transition Corp. II (NASDAQ:NETD) experienced a significant 92% decline in short interest in July, with only 1,600 shares short sold by the end of the month.
• Major shareholder Mizuho Securities USA LLC sold 565,000 shares at an average price of $11.18, resulting in a 31.39% decrease in their ownership of the company.
• Institutional investors own 75.52% of Nabors Energy Transition Corp. II's stock, with several hedge funds increasing their stakes during recent quarters.

Nabors Energy Transition Corp. II (NASDAQ:NETD - Get Free Report) saw a large decline in short interest in July. As of July 31st, there was short interest totaling 1,600 shares, adeclineof92.0% from the July 15th total of 19,900 shares. Based on an average daily volume of 201,500 shares, the short-interest ratio is presently 0.0 days. Approximately0.0% of the shares of the stock are short sold. Approximately0.0% of the shares of the stock are short sold. Based on an average daily volume of 201,500 shares, the short-interest ratio is presently 0.0 days.

Nabors Energy Transition Corp. II Stock Down 0.2%

NASDAQ NETD traded down $0.02 during trading hours on Tuesday, reaching $11.23. The company's stock had a trading volume of 3,037 shares, compared to its average volume of 65,219. The firm's 50-day moving average price is $11.16 and its 200-day moving average price is $11.05. Nabors Energy Transition Corp. II has a 1 year low of $10.57 and a 1 year high of $11.47. The company has a market capitalization of $428.09 million, a price-to-earnings ratio of 59.11 and a beta of -0.02.

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

Insider Buying and Selling

In related news, major shareholder Mizuho Securities Usa Llc sold 565,000 shares of the business's stock in a transaction that occurred 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 transaction, the insider directly owned 1,235,000 shares of the company's stock, valued at approximately $13,807,300. The trade was a 31.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 20.00% of the company's stock.

Institutional Trading of Nabors Energy Transition Corp. II

A number of large investors have recently added to or reduced their stakes in NETD. Wealthspring Capital LLC increased its stake in Nabors Energy Transition Corp. II by 495.8% in the 2nd quarter. Wealthspring Capital LLC now owns 1,560,107 shares of the company's stock worth $17,317,000 after acquiring an additional 1,298,272 shares during the last quarter. Toronto Dominion Bank bought a new stake in Nabors Energy Transition Corp. II in the 4th quarter worth approximately $13,661,000. Berkley W R Corp increased its stake in Nabors Energy Transition Corp. II by 184.8% in the 2nd quarter. Berkley W R Corp now owns 1,542,099 shares of the company's stock worth $17,117,000 after acquiring an additional 1,000,573 shares during the last quarter. DLD Asset Management LP bought a new stake in Nabors Energy Transition Corp. II in the 2nd quarter worth approximately $9,016,000. Finally, Wolverine Asset Management LLC increased its stake in Nabors Energy Transition Corp. II by 67.2% in the 2nd quarter. Wolverine Asset Management LLC now owns 1,337,286 shares of the company's stock worth $14,844,000 after acquiring an additional 537,522 shares during the last quarter. Institutional investors 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.