Nabors Energy Transition Corp. II (NASDAQ:NETD) Short Interest Down 92.0% in July

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) was the recipient of a significant decline in short interest during the month of 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 days-to-cover ratio is currently 0.0 days. Currently,0.0% of the company's shares are short sold. Currently,0.0% of the company's shares are short sold. Based on an average daily volume of 201,500 shares, the days-to-cover ratio is currently 0.0 days.

Insiders Place Their Bets

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 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 owned 1,235,000 shares in the company, valued at $13,807,300. This represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 20.00% of the company's stock.

Institutional Investors Weigh In On Nabors Energy Transition Corp. II

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Nabors Energy Transition Corp. II in the fourth quarter worth $128,000. Geode Capital Management LLC grew its stake in shares of Nabors Energy Transition Corp. II by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 30,176 shares of the company's stock worth $326,000 after acquiring an additional 2,194 shares during the last quarter. Virtu Financial LLC grew its stake in shares of Nabors Energy Transition Corp. II by 319.4% in the first quarter. Virtu Financial LLC now owns 43,976 shares of the company's stock worth $482,000 after acquiring an additional 33,490 shares during the last quarter. Clear Street LLC grew its stake in shares of Nabors Energy Transition Corp. II by 116,901.2% in the second quarter. Clear Street LLC now owns 98,281 shares of the company's stock worth $1,091,000 after acquiring an additional 98,197 shares during the last quarter. Finally, Centiva Capital LP purchased a new stake in shares of Nabors Energy Transition Corp. II in the fourth quarter worth $1,959,000. 75.52% of the stock is owned by hedge funds and other institutional investors.

Nabors Energy Transition Corp. II Price Performance

NETD stock traded down $0.00 during midday trading on Thursday, hitting $11.26. The stock had a trading volume of 142 shares, compared to its average volume of 83,929. The firm has a market cap of $429.08 million, a price-to-earnings ratio of 51.17 and a beta of -0.02. The business has a 50-day moving average of $11.15 and a two-hundred day moving average of $11.03. Nabors Energy Transition Corp. II has a 52-week low of $10.57 and a 52-week high of $11.47.

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

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