KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) Sees Significant Increase in Short Interest

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 1,540,000 shares, a growth of 18.5% from the September 15th total of 1,300,000 shares. Based on an average daily volume of 140,400 shares, the short-interest ratio is currently 11.0 days.

KLX Energy Services Stock Performance

Shares of KLXE stock traded down $0.04 on Monday, hitting $5.55. The company had a trading volume of 75,299 shares, compared to its average volume of 176,624. KLX Energy Services has a twelve month low of $4.18 and a twelve month high of $12.13. The firm has a market cap of $93.61 million, a P/E ratio of -7.12 and a beta of 1.97. The company has a 50-day moving average price of $6.15 and a 200-day moving average price of $6.00. The company has a quick ratio of 1.44, a current ratio of 1.66 and a debt-to-equity ratio of 32.22.

KLX Energy Services (NASDAQ:KLXE) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.32. The business had revenue of $180.20 million during the quarter, compared to the consensus estimate of $179.80 million. KLX Energy Services had a negative net margin of 4.13% and a negative return on equity of 94.97%. As a group, equities research analysts predict that KLX Energy Services will post -2.85 earnings per share for the current fiscal year.

Institutional Trading of KLX Energy Services

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its stake 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 valued at $44,000 after buying an additional 8,946 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in KLX Energy Services in the 2nd quarter valued at $84,000. Paloma Partners Management Co purchased a new position in KLX Energy Services in the 1st quarter valued at $91,000. Virtu Financial LLC purchased a new stake in shares of KLX Energy Services during the first quarter worth $122,000. Finally, Dimensional Fund Advisors LP raised its position in shares of KLX Energy Services by 90.9% in the second quarter. Dimensional Fund Advisors LP now owns 26,215 shares of the company’s stock valued at $130,000 after buying an additional 12,485 shares during the last quarter. 42.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on KLXE. Singular Research upgraded shares of KLX Energy Services to a “strong-buy” rating in a research note on Monday, August 12th. Piper Sandler lowered their price target on KLX Energy Services from $6.50 to $4.50 and set a “neutral” rating for the company in a research report on Monday, July 15th.

About KLX Energy Services

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.