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

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

Analyst Upgrades and Downgrades

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

KLX Energy Services Stock Performance

The company has a quick ratio of 1.08, a current ratio of 1.24 and a debt-to-equity ratio of 105.76. The business has a fifty day moving average price of $5.40 and a 200 day moving average price of $5.58.

KLX Energy Services (NASDAQ:KLXE) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates 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. Analysts predict that KLX Energy Services Holdings, Inc. will post -2.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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