Nabors Energy Transition Corp. II (NASDAQ:NETD) Short Interest Update

Key Points

• Nabors Energy Transition Corp. II saw a significant decrease in short interest, dropping by 28.6% in September to a total of 500 shares.
• The stock has a current market capitalization of $238.93 million and reported $0.06 earnings per share in its latest quarterly results.
• Weiss Ratings has reiterated a "sell" rating on the stock, which is reflected in the average rating of "Sell" from analysts.

Nabors Energy Transition Corp. II (NASDAQ:NETD - Get Free Report) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 500 shares, a decline of 28.6% from the August 31st total of 700 shares. Based on an average daily trading volume, of 89,100 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily trading volume, of 89,100 shares, the days-to-cover ratio is presently 0.0 days.

Nabors Energy Transition Corp. II Trading Down 0.2%

NETD stock opened at $11.19 on Tuesday. Nabors Energy Transition Corp. II has a twelve month low of $10.64 and a twelve month high of $11.47. The company has a market capitalization of $238.93 million, a P/E ratio of 59.27 and a beta of -0.02. The business has a 50 day simple moving average of $11.26 and a 200-day simple moving average of $11.12.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Nabors Energy Transition Corp. II in a report on Saturday, September 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Nabors Energy Transition Corp. II currently has an average rating of "Sell".

Insider Transactions 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 stock in a transaction dated Tuesday, July 22nd. The shares were 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 of the company's stock, valued at $13,807,300. This trade represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 20.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nabors Energy Transition Corp. II

A number of large investors have recently bought and sold shares of NETD. Virtu Financial LLC increased its position in Nabors Energy Transition Corp. II by 319.4% during the 1st quarter. Virtu Financial LLC now owns 43,976 shares of the company's stock worth $482,000 after purchasing an additional 33,490 shares during the period. Clear Street LLC grew its position 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 valued at $1,091,000 after purchasing an additional 98,197 shares during the last quarter. Shaolin Capital Management LLC grew its holdings in Nabors Energy Transition Corp. II by 100.0% during the 2nd quarter. Shaolin Capital Management LLC now owns 200,000 shares of the company's stock valued at $2,220,000 after buying an additional 100,000 shares during the last quarter. Radcliffe Capital Management L.P. purchased a new stake in Nabors Energy Transition Corp. II during the 2nd quarter worth about $2,775,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Nabors Energy Transition Corp. II during the 1st quarter worth about $2,947,000. Hedge funds and other institutional investors own 75.52% of the company's stock.

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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