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

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 1,420,000 shares, a decline of 7.8% from the September 30th total of 1,540,000 shares. Based on an average daily volume of 132,000 shares, the short-interest ratio is currently 10.8 days.

Hedge Funds Weigh In On KLX Energy Services

A number of hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC bought a new stake in shares of KLX Energy Services during the 3rd quarter valued at $58,000. Clifford Capital Partners LLC raised its stake in KLX Energy Services by 13.9% during the 2nd quarter. Clifford Capital Partners LLC now owns 70,347 shares of the company’s stock valued at $348,000 after purchasing an additional 8,589 shares during the period. Cubist Systematic Strategies LLC purchased a new position in KLX Energy Services in the 2nd quarter worth approximately $156,000. Point72 Asia Singapore Pte. Ltd. bought a new position in KLX Energy Services in the 2nd quarter worth approximately $84,000. Finally, Dimensional Fund Advisors LP grew its holdings in KLX Energy Services by 90.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,215 shares of the company’s stock valued at $130,000 after buying an additional 12,485 shares in the last quarter. Hedge funds and other institutional investors own 42.69% of the company’s stock.

KLX Energy Services Stock Down 2.0 %

Shares of KLXE stock traded down $0.09 during trading hours on Thursday, hitting $4.42. 37,284 shares of the company’s stock traded hands, compared to its average volume of 171,699. The company has a quick ratio of 1.44, a current ratio of 1.66 and a debt-to-equity ratio of 32.22. The stock has a market cap of $74.55 million, a price-to-earnings ratio of -5.65 and a beta of 1.97. The stock’s fifty day simple moving average is $5.71 and its two-hundred day simple moving average is $5.75. KLX Energy Services has a 12-month low of $4.18 and a 12-month high of $12.13.

KLX Energy Services (NASDAQ:KLXE) last issued its earnings results on Wednesday, August 7th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.32. KLX Energy Services had a negative return on equity of 94.97% and a negative net margin of 4.13%. The business had revenue of $180.20 million for the quarter, compared to the consensus estimate of $179.80 million. On average, analysts expect that KLX Energy Services will post -2.85 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on KLXE. Piper Sandler decreased their target price on shares of KLX Energy Services from $6.50 to $4.50 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Singular Research raised shares of KLX Energy Services to a “strong-buy” rating in a research note on Monday, August 12th.

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.