KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) Sees Significant Growth in Short Interest

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) saw a significant growth in short interest in August. As of August 14th, there was short interest totaling 2,506,658 shares, a growth of 90.1% from the July 30th total of 1,318,617 shares. Based on an average trading volume of 936,093 shares, the days-to-cover ratio is presently 2.7 days. Approximately 12.5% of the company’s shares are short sold.

Institutional Investors Weigh In On KLX Energy Services

Several institutional investors have recently bought and sold shares of the company. Gamco Investors INC. ET AL lifted its stake in KLX Energy Services by 14.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 40,000 shares of the company’s stock valued at $76,000 after acquiring an additional 5,000 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of KLX Energy Services by 31.3% during the first quarter. PNC Financial Services Group Inc. now owns 23,725 shares of the company’s stock worth $62,000 after acquiring an additional 5,658 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of KLX Energy Services by 6.2% during the fourth quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock worth $261,000 after acquiring an additional 8,100 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of KLX Energy Services in the first quarter valued at approximately $26,000. Finally, Jane Street Group LLC grew its position in shares of KLX Energy Services by 88.5% in the fourth quarter. Jane Street Group LLC now owns 30,605 shares of the company’s stock valued at $58,000 after purchasing an additional 14,373 shares during the last quarter. Institutional investors own 42.69% of the company’s stock.

KLX Energy Services Price Performance

KLXE stock traded up $0.03 during trading hours on Friday, reaching $1.53. 816,477 shares of the stock were exchanged, compared to its average volume of 637,179. The firm’s 50-day moving average is $2.09 and its 200-day moving average is $2.59. The company has a market cap of $32.79 million, a price-to-earnings ratio of -0.48 and a beta of 0.85. KLX Energy Services has a 12 month low of $1.41 and a 12 month high of $4.50.

KLX Energy Services (NASDAQ:KLXE) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.82) by $0.18. The firm had revenue of $167.30 million during the quarter, compared to analyst estimates of $167.50 million. As a group, equities research analysts forecast that KLX Energy Services will post -0.96 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of KLX Energy Services in a report on Friday, July 31st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce”.

About KLX Energy Services

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.