KLX Energy Services (NASDAQ:KLXE) Trading Up 0.7% – Here’s What Happened

Shares of KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) were up 0.7% during trading on Wednesday . The company traded as high as $6.03 and last traded at $5.83. Approximately 22,403 shares traded hands during trading, a decline of 87% from the average daily volume of 169,547 shares. The stock had previously closed at $5.79.

Wall Street Analysts Forecast Growth

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

KLX Energy Services Stock Up 2.3 %

The company’s 50 day simple moving average is $5.31 and its 200-day simple moving average is $5.58. 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 firm has a market capitalization of $103.18 million, a PE ratio of -2.07 and a beta of 2.00.

KLX Energy Services (NASDAQ:KLXE) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.08. The firm had revenue of $188.90 million for the quarter, compared to analysts’ expectations of $181.60 million. KLX Energy Services had a negative net margin of 6.45% and a negative return on equity of 244.12%. On average, analysts forecast that KLX Energy Services Holdings, Inc. will post -2.79 EPS for the current fiscal year.

Hedge Funds Weigh In On KLX Energy Services

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings 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 worth $44,000 after acquiring an additional 8,946 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in KLX Energy Services in the 3rd quarter worth $58,000. Paloma Partners Management Co bought a new stake in KLX Energy Services in the 1st quarter worth $91,000. Virtu Financial LLC bought a new stake in KLX Energy Services in the 3rd quarter worth $77,000. Finally, SkyView Investment Advisors LLC grew its holdings in KLX Energy Services by 20.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 15,000 shares of the company’s stock worth $82,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors 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.