KLX Energy Services (NASDAQ:KLXE) Trading Down 5.8%

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) dropped 5.8% during mid-day trading on Monday . The stock traded as low as $5.85 and last traded at $5.86. Approximately 118,884 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 186,463 shares. The stock had previously closed at $6.22.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Singular Research upgraded shares of KLX Energy Services to a “strong-buy” rating in a report on Monday, August 12th. Piper Sandler cut their price target on KLX Energy Services from $6.50 to $4.50 and set a “neutral” rating for the company in a research note on Monday, July 15th.

KLX Energy Services Price Performance

The company has a current ratio of 1.66, a quick ratio of 1.44 and a debt-to-equity ratio of 32.22. The business has a 50-day moving average of $6.23 and a 200 day moving average of $6.34. The firm has a market capitalization of $93.24 million, a PE ratio of -7.09 and a beta of 1.98.

KLX Energy Services (NASDAQ:KLXE) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.32. KLX Energy Services had a negative net margin of 4.13% and a negative return on equity of 94.97%. The company had revenue of $180.20 million for the quarter, compared to analyst estimates of $179.80 million. As a group, research analysts anticipate that KLX Energy Services Holdings, Inc. will post -2.82 EPS for the current fiscal year.

Hedge Funds Weigh In On KLX Energy Services

Several institutional investors have recently modified their holdings of KLXE. Findell Capital Management LLC purchased a new position in KLX Energy Services in the fourth quarter worth $5,630,000. CastleKnight Management LP grew its position in KLX Energy Services by 139.2% during the fourth quarter. CastleKnight Management LP now owns 173,041 shares of the company’s stock valued at $1,948,000 after buying an additional 100,708 shares during the period. Gendell Jeffrey L increased its holdings in KLX Energy Services by 6.4% during the first quarter. Gendell Jeffrey L now owns 1,624,096 shares of the company’s stock worth $12,571,000 after buying an additional 97,301 shares during the last quarter. First Eagle Investment Management LLC bought a new stake in KLX Energy Services in the fourth quarter worth about $868,000. Finally, Vanguard Group Inc. boosted its stake in KLX Energy Services by 5.2% in the first quarter. Vanguard Group Inc. now owns 717,334 shares of the company’s stock valued at $5,552,000 after acquiring an additional 35,189 shares during the last quarter. 42.69% of the stock is owned by institutional investors.

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.