KLX Energy Services (NASDAQ:KLXE) Trading 0.5% Higher – Here’s Why

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) traded up 0.5% during mid-day trading on Wednesday . The stock traded as high as $5.68 and last traded at $5.68. 8,681 shares were traded during mid-day trading, a decline of 95% from the average session volume of 166,717 shares. The stock had previously closed at $5.65.

Analyst Upgrades and Downgrades

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

KLX Energy Services Trading Down 3.7 %

The business’s 50-day moving average is $5.38 and its two-hundred day moving average is $5.58. The company has a current ratio of 1.24, a quick ratio of 1.08 and a debt-to-equity ratio of 105.76. The stock has a market capitalization of $91.72 million, a PE ratio of -1.92 and a beta of 2.12.

KLX Energy Services (NASDAQ:KLXE) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.40) earnings per share for the quarter, topping 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 firm had revenue of $188.90 million for the quarter, compared to analyst estimates of $181.60 million. On average, analysts predict that KLX Energy Services Holdings, Inc. will post -2.79 earnings per share for the current year.

Institutional Investors Weigh In On KLX Energy Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KLXE. Allspring Global Investments Holdings LLC boosted its position in shares of KLX Energy Services by 89,460.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,956 shares of the company’s stock valued at $44,000 after acquiring an additional 8,946 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in KLX Energy Services during the third quarter valued at approximately $58,000. Virtu Financial LLC acquired a new position in shares of KLX Energy Services in the third quarter valued at approximately $77,000. SkyView Investment Advisors LLC boosted its holdings 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 period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of KLX Energy Services in 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.