KLX Energy Services (NASDAQ:KLXE) Shares Down 1.2% – Here’s Why

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE)’s share price was down 1.2% during trading on Tuesday . The company traded as low as $4.90 and last traded at $4.96. Approximately 17,388 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 165,880 shares. The stock had previously closed at $5.02.

Wall Street Analysts Forecast Growth

Separately, Singular Research raised KLX Energy Services to a “strong-buy” rating in a research report on Monday, August 12th.

KLX Energy Services Price Performance

The company has a debt-to-equity ratio of 105.76, a current ratio of 1.24 and a quick ratio of 1.08. The business’s fifty day moving average price is $5.35 and its 200-day moving average price is $5.58. The stock has a market capitalization of $86.15 million, a price-to-earnings ratio of -1.68 and a beta of 2.12.

KLX Energy Services (NASDAQ:KLXE) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.08. The business had revenue of $188.90 million during the quarter, compared to the consensus estimate of $181.60 million. KLX Energy Services had a negative return on equity of 244.12% and a negative net margin of 6.45%. On average, research analysts forecast that KLX Energy Services Holdings, Inc. will post -2.79 EPS for the current year.

Institutional Trading of KLX Energy Services

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in KLX Energy Services by 89,460.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,956 shares of the company’s stock worth $44,000 after purchasing an additional 8,946 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of KLX Energy Services in the 3rd quarter worth approximately $58,000. Virtu Financial LLC bought a new position in shares of KLX Energy Services in the third quarter valued at approximately $77,000. SkyView Investment Advisors LLC increased its position in shares of KLX Energy Services by 20.0% during the third quarter. SkyView Investment Advisors LLC now owns 15,000 shares of the company’s stock valued at $82,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in KLX Energy Services during the second quarter worth $84,000. Hedge funds and other institutional investors own 42.69% of the company’s stock.

KLX Energy Services Company Profile

KLX Energy Services Holdings, Inc provides drilling, completions, production, and well intervention services and products to the onshore oil and gas producing regions of the United States. The company operates through three segments: Southwest, Rocky Mountains, and Northeast/Mid-Con. It provides directional drilling services; downhole navigational and rental tools businesses and support services, including well planning, site supervision, accommodation rentals, and other drilling rentals; and various technologies, including gamma ray, azimuthal gamma ray, real-time continuous inclination and azimuth, rotary steerable, pressure-while-drilling, mode shifting, stick-slip and destructive dynamics, dynamic sequencing and real-time shock, and vibration modules.