KLX Energy Services (NASDAQ:KLXE) Trading Down 2.4% – Here’s Why

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) shares traded down 2.4% during trading on Tuesday . The stock traded as low as $2.44 and last traded at $2.49. 104,942 shares were traded during trading, a decline of 51% from the average daily volume of 215,678 shares. The stock had previously closed at $2.55.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of KLX Energy Services in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, KLX Energy Services currently has an average rating of “Reduce”.

KLX Energy Services Price Performance

The firm has a 50-day simple moving average of $2.88 and a 200 day simple moving average of $2.67. The stock has a market capitalization of $44.00 million, a P/E ratio of -0.58 and a beta of 0.79.

KLX Energy Services (NASDAQ:KLXE) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($1.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.27) by $0.09. The business had revenue of $144.70 million during the quarter, compared to the consensus estimate of $146.50 million. Sell-side analysts anticipate that KLX Energy Services Holdings, Inc. will post -3.15 earnings per share for the current fiscal year.

Institutional Trading of KLX Energy Services

Several hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new stake in shares of KLX Energy Services in the first quarter worth approximately $26,000. Jain Global LLC purchased a new stake in shares of KLX Energy Services during the 4th quarter valued at approximately $29,000. Boothbay Fund Management LLC bought a new stake in KLX Energy Services during the 2nd quarter valued at $30,000. Virtu Financial LLC bought a new position in KLX Energy Services in the 3rd quarter worth about $36,000. Finally, Raymond James Financial Inc. boosted its position in shares of KLX Energy Services by 532.0% in the third quarter. Raymond James Financial Inc. now owns 22,115 shares of the company’s stock valued at $42,000 after acquiring an additional 18,616 shares during the period. Institutional investors own 42.69% of the company’s stock.

KLX Energy Services Company Profile

KLX Energy Services is a provider of completion tools and pumping equipment for the upstream oil and gas sector, offering high-pressure pumping systems, pressure control equipment, solids control services and downhole rental tools. The company supports well completion and stimulation operations by supplying, installing and maintaining critical equipment used in hydraulic fracturing, coiled tubing interventions and associated wellsite activities.

The firm’s product portfolio includes deck-mounted and portable fracturing pumps, high-pressure manifolds, flowback and well testing units, filtration and separation systems, and wellsite automation solutions.