KLX Energy Services (NASDAQ:KLXE) Stock Falls 9.5% – What’s Next?

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE)’s share price traded down 9.5% during trading on Thursday. The stock traded as low as $1.0401 and last traded at $1.05. Approximately 416,399 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 693,424 shares. The stock had previously closed at $1.16.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered KLX Energy Services from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 28th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce”.

KLX Energy Services Stock Down 9.5%

The business’s 50-day moving average price is $1.45 and its 200-day moving average price is $2.26. The firm has a market capitalization of $22.50 million, a PE ratio of -0.33 and a beta of 0.71.

KLX Energy Services (NASDAQ:KLXE) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.18. The company had revenue of $167.30 million for the quarter, compared to analysts’ expectations of $167.50 million. On average, analysts anticipate that KLX Energy Services Holdings, Inc. will post -1.18 EPS for the current fiscal year.

Institutional Investors Weigh In On KLX Energy Services

Institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC acquired a new position in shares of KLX Energy Services in the second quarter worth $65,000. Engineers Gate Manager LP acquired a new stake in KLX Energy Services during the second quarter valued at $72,000. Bank of New York Mellon Corp acquired a new stake in KLX Energy Services during the second quarter valued at $60,000. Renaissance Technologies LLC boosted its position in KLX Energy Services by 10.2% during the first quarter. Renaissance Technologies LLC now owns 152,100 shares of the company’s stock valued at $395,000 after purchasing an additional 14,100 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in KLX Energy Services in the first quarter valued at about $42,000. Institutional investors and hedge funds own 42.69% of the company’s stock.

About KLX Energy Services

KLX Energy Services Holdings, Inc provides oilfield services and equipment to exploration and production companies operating primarily in the United States. The company supports the development, completion, production and maintenance of oil and natural gas wells, with services designed for both new well construction and ongoing well operations.

Its offerings include completion and production services, well intervention, pressure pumping, wireline, coiled tubing, well testing, fluid management, stimulation and related technical services.