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

Nabors Energy Transition Corp. II (NASDAQ:NETD - Get Free Report) was the recipient of a significant drop in short interest in May. As of May 31st, there was short interest totalling 18,700 shares, a drop of 62.4% from the May 15th total of 49,700 shares. Based on an average daily volume of 174,800 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NETD. Decagon Asset Management LLP bought a new position in Nabors Energy Transition Corp. II during the fourth quarter valued at approximately $5,184,000. Toronto Dominion Bank bought a new position in shares of Nabors Energy Transition Corp. II during the 4th quarter valued at approximately $13,661,000. Geode Capital Management LLC grew its holdings 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 valued at $326,000 after purchasing an additional 2,194 shares in the last quarter. Berkley W R Corp increased its position in Nabors Energy Transition Corp. II by 15.7% in the fourth quarter. Berkley W R Corp now owns 565,987 shares of the company's stock worth $6,113,000 after purchasing an additional 76,721 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in Nabors Energy Transition Corp. II by 5.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,459,229 shares of the company's stock worth $15,760,000 after purchasing an additional 75,000 shares during the last quarter. Hedge funds and other institutional investors own 75.52% of the company's stock.

Nabors Energy Transition Corp. II Trading Up 0.1%

NETD traded up $0.01 on Monday, hitting $11.08. 150,852 shares of the company's stock traded hands, compared to its average volume of 234,169. Nabors Energy Transition Corp. II has a one year low of $10.53 and a one year high of $11.11. The firm has a market cap of $422.43 million, a price-to-earnings ratio of 50.36 and a beta of -0.02. The company's 50 day simple moving average is $11.02 and its 200-day simple moving average is $10.92.

Nabors Energy Transition Corp. II (NASDAQ:NETD - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported $0.02 earnings per share for the quarter.

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.