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

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

Nabors Energy Transition Corp. II Price Performance

Shares of NASDAQ NETD traded down $0.04 during midday trading on Thursday, reaching $11.34. 2,626 shares of the company traded hands, compared to its average volume of 207,429. Nabors Energy Transition Corp. II has a 52 week low of $10.71 and a 52 week high of $11.47. The company has a market cap of $242.00 million, a price-to-earnings ratio of 59.66 and a beta of -0.02. The stock has a 50-day moving average price of $11.30 and a 200 day moving average price of $11.19.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Nabors Energy Transition Corp. II in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Nabors Energy Transition Corp. II currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Nabors Energy Transition Corp. II

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC lifted its holdings in 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 acquiring an additional 350,000 shares during the last quarter. Radcliffe Capital Management L.P. acquired a new stake in Nabors Energy Transition Corp. II during the 2nd quarter valued at $2,775,000. Finally, Shaolin Capital Management LLC boosted its position 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 worth $2,220,000 after acquiring an additional 100,000 shares during the period. 75.52% of the stock is currently owned by institutional investors.

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.