Nabors Energy Transition Corp. II (NASDAQ:NETD) Issues Quarterly Earnings Results

Nabors Energy Transition Corp. II (NASDAQ:NETD) posted its quarterly earnings data on Thursday. The company reported ($0.09) earnings per share for the quarter, Zacks reports.

Nabors Energy Transition Corp. II Trading Down 0.3%

NETD stock traded down $0.04 during mid-day trading on Thursday, reaching $11.34. The company’s stock had a trading volume of 2,626 shares, compared to its average volume of 207,432. The company’s 50 day moving average is $11.30 and its two-hundred day moving average is $11.19. Nabors Energy Transition Corp. II has a fifty-two week low of $10.71 and a fifty-two week high of $11.47. The stock has a market cap of $242.00 million, a PE ratio of 59.66 and a beta of -0.02.

Institutional Investors Weigh In On Nabors Energy Transition Corp. II

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Shaolin Capital Management LLC raised its holdings in Nabors Energy Transition Corp. II by 100.0% in the second quarter. Shaolin Capital Management LLC now owns 200,000 shares of the company’s stock valued at $2,220,000 after acquiring an additional 100,000 shares in the last quarter. Radcliffe Capital Management L.P. purchased a new stake in shares of Nabors Energy Transition Corp. II in the 2nd quarter valued at approximately $2,775,000. Finally, Millennium Management LLC raised its holdings in shares of Nabors Energy Transition Corp. II by 175.0% in 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 in the last quarter. Institutional investors and hedge funds own 75.52% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Nabors Energy Transition Corp. II in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

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.