KLX Energy Services (NASDAQ:KLXE) Trading Down 2.7% – Here’s Why

Shares of KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) were down 2.7% during mid-day trading on Tuesday . The company traded as low as $5.66 and last traded at $5.75. Approximately 35,355 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 166,995 shares. The stock had previously closed at $5.91.

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 Stock Performance

The stock has a market capitalization of $96.10 million, a P/E ratio of -1.94 and a beta of 2.12. The company has a debt-to-equity ratio of 105.76, a quick ratio of 1.08 and a current ratio of 1.24. The company’s fifty day simple moving average is $5.39 and its two-hundred day simple moving average is $5.59.

KLX Energy Services (NASDAQ:KLXE) last released its quarterly earnings results 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. As a group, equities analysts forecast that KLX Energy Services Holdings, Inc. will post -2.79 EPS for the current year.

Institutional Trading of KLX Energy Services

A number of hedge funds have recently added to or reduced their stakes in KLXE. SkyView Investment Advisors LLC boosted its stake 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 purchasing an additional 2,500 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of KLX Energy Services during the third quarter worth $77,000. Barclays PLC grew its stake in shares of KLX Energy Services by 56,523.3% in the third quarter. Barclays PLC now owns 24,348 shares of the company’s stock worth $133,000 after purchasing an additional 24,305 shares during the last quarter. Geode Capital Management LLC increased 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 valued at $877,000 after purchasing an additional 7,328 shares during the period. Finally, XTX Topco Ltd acquired a new position in KLX Energy Services during the 3rd quarter worth about $146,000. Institutional investors and hedge funds own 42.69% of the company’s stock.

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.