KLX Energy Services (NASDAQ:KLXE) Trading Down 7.4% – Time to Sell?

Shares of KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) traded down 7.4% during mid-day trading on Wednesday . The company traded as low as $5.97 and last traded at $6.01. 86,914 shares were traded during trading, a decline of 31% from the average session volume of 125,281 shares. The stock had previously closed at $6.49.

Wall Street Analysts Forecast Growth

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

KLX Energy Services Trading Up 0.2 %

The stock’s 50-day moving average price is $5.40 and its 200-day moving average price is $5.58. The company has a debt-to-equity ratio of 105.76, a quick ratio of 1.08 and a current ratio of 1.24.

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

Hedge Funds Weigh In On KLX Energy Services

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in KLX Energy Services by 5.2% in the first quarter. Vanguard Group Inc. now owns 717,334 shares of the company’s stock valued at $5,552,000 after buying an additional 35,189 shares during the period. American Century Companies Inc. raised its holdings in KLX Energy Services by 12.5% in the second quarter. American Century Companies Inc. now owns 177,965 shares of the company’s stock worth $881,000 after purchasing an additional 19,744 shares during the period. Geode Capital Management LLC raised its holdings in KLX Energy Services by 4.8% in the third quarter. Geode Capital Management LLC now owns 160,342 shares of the company’s stock worth $877,000 after purchasing an additional 7,328 shares during the period. Clifford Capital Partners LLC raised its holdings in KLX Energy Services by 13.7% in the third quarter. Clifford Capital Partners LLC now owns 79,985 shares of the company’s stock worth $438,000 after purchasing an additional 9,638 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in KLX Energy Services in the second quarter worth $156,000. 42.69% of the stock is currently owned by institutional investors and hedge funds.

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.