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

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

Nabors Energy Transition Corp. II Stock Performance

Shares of NETD traded up $0.03 on Friday, reaching $11.35. The stock had a trading volume of 153,903 shares, compared to its average volume of 207,211. Nabors Energy Transition Corp. II has a 12-month low of $10.71 and a 12-month high of $11.47. The firm has a market capitalization of $242.32 million, a price-to-earnings ratio of 59.74 and a beta of -0.02. The company has a 50-day simple moving average of $11.30 and a 200-day simple moving average of $11.19.

Hedge Funds Weigh In On Nabors Energy Transition Corp. II

Several institutional investors and hedge funds have recently added to or reduced their stakes in NETD. Shaolin Capital Management LLC grew its position in shares of Nabors Energy Transition Corp. II by 100.0% in the 2nd quarter. Shaolin Capital Management LLC now owns 200,000 shares of the company’s stock worth $2,220,000 after buying an additional 100,000 shares during the period. Radcliffe Capital Management L.P. bought a new stake in Nabors Energy Transition Corp. II during the second quarter worth about $2,775,000. Finally, Millennium Management LLC boosted its stake in Nabors Energy Transition Corp. II by 175.0% during the first quarter. Millennium Management LLC now owns 550,000 shares of the company’s stock worth $6,022,000 after acquiring an additional 350,000 shares in the last quarter. Hedge funds and other institutional investors own 75.52% of the company’s stock.

Wall Street Analyst Weigh In

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, Nabors Energy Transition Corp. II presently has a consensus rating of “Sell”.

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.