Nabors Energy Transition Corp. II's (NETD) "Sell (D)" Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "sell (D)" rating for Nabors Energy Transition Corp. II (NETD), indicating ongoing concerns about the company's stock performance.
• Nabors Energy Transition Corp. II's shares opened at $11.23, with a market capitalization of $239.76 million, and a reported PE ratio of 59.11.
• Recent insider trading includes Mizuho Securities USA LLC selling 565,000 shares for approximately $6.3 million, decreasing their position by over 31%.

Nabors Energy Transition Corp. II (NASDAQ:NETD - Get Free Report)'s stock had its "sell (d)" rating reissued by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Nabors Energy Transition Corp. II Stock Performance

NETD opened at $11.23 on Wednesday. Nabors Energy Transition Corp. II has a 1-year low of $10.64 and a 1-year high of $11.47. The company has a market capitalization of $239.76 million, a PE ratio of 59.11 and a beta of -0.02. The firm's 50 day simple moving average is $11.26 and its two-hundred day simple moving average is $11.13.

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 for the quarter.

Insider Activity at Nabors Energy Transition Corp. II

In other news, major shareholder Mizuho Securities Usa Llc sold 565,000 shares of the firm's stock in a transaction on 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 sale, the insider directly owned 1,235,000 shares in the company, valued at $13,807,300. This trade represents a 31.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 20.00% of the stock is owned by insiders.

Institutional Trading of Nabors Energy Transition Corp. II

Several institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC raised 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 period. Clear Street LLC raised its position in shares of Nabors Energy Transition Corp. II by 116,901.2% during the 2nd 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 period. Shaolin Capital Management LLC raised its position in shares of 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 purchasing an additional 100,000 shares during the period. Mizuho Securities USA LLC raised 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 period. Finally, Wolverine Asset Management LLC increased its holdings in Nabors Energy Transition Corp. II by 26.1% in the 1st quarter. Wolverine Asset Management LLC now owns 799,764 shares of the company's stock valued at $8,757,000 after acquiring an additional 165,290 shares during the last quarter. 75.52% of the stock is currently owned by 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.

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