Nabors Energy Transition Corp. II (NASDAQ:NETD) Shares Down 0.1% - Should You Sell?

Shares of Nabors Energy Transition Corp. II (NASDAQ:NETD - Get Free Report) traded down 0.1% during trading on Friday . The stock traded as low as $11.08 and last traded at $11.09. 1,302,374 shares traded hands during mid-day trading, an increase of 676% from the average session volume of 167,846 shares. The stock had previously closed at $11.10.

Nabors Energy Transition Corp. II Price Performance

The company has a fifty day moving average of $11.06 and a 200 day moving average of $10.96. The firm has a market capitalization of $422.37 million, a P/E ratio of 50.37 and a beta of -0.02.

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

Institutional Investors Weigh In On Nabors Energy Transition Corp. II

A number of institutional investors and hedge funds have recently bought and sold shares of NETD. Millennium Management LLC increased its position in shares of Nabors Energy Transition Corp. II by 175.0% during the 1st quarter. Millennium Management LLC now owns 550,000 shares of the company's stock valued at $6,022,000 after purchasing an additional 350,000 shares during the last quarter. K2 Principal Fund L.P. purchased a new stake in shares of Nabors Energy Transition Corp. II during the 1st quarter valued at $3,285,000. Alpine Global Management LLC purchased a new stake in shares of Nabors Energy Transition Corp. II during the 1st quarter valued at $2,947,000. Virtu Financial LLC increased its position in shares of 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 valued at $482,000 after purchasing an additional 33,490 shares during the last quarter. Finally, Mizuho Securities USA LLC increased its position in shares of Nabors Energy Transition Corp. II by 49.0% during the 1st quarter. Mizuho Securities USA LLC now owns 408,804 shares of the company's stock valued at $4,456,000 after purchasing an additional 134,501 shares during the last quarter. 75.52% of the stock is owned by hedge funds and other institutional investors.

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.