KLX Energy Services (NASDAQ:KLXE) Shares Up 4.4% – Here’s What Happened

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) shares traded up 4.4% during mid-day trading on Monday . The stock traded as high as $6.60 and last traded at $6.60. 26,822 shares changed hands during trading, a decline of 84% from the average session volume of 168,786 shares. The stock had previously closed at $6.32.

Wall Street Analyst Weigh In

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

KLX Energy Services Price Performance

The company’s 50-day simple moving average is $5.35 and its 200-day simple moving average is $5.57. The stock has a market capitalization of $109.42 million, a P/E ratio of -2.19 and a beta of 2.00. The company has a debt-to-equity ratio of 105.76, a current ratio of 1.24 and a quick ratio of 1.08.

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

Institutional Investors Weigh In On KLX Energy Services

Several hedge funds have recently added to or reduced their stakes in the business. SkyView Investment Advisors LLC lifted its position in KLX Energy Services by 20.0% during the third 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. Virtu Financial LLC bought a new position in shares of KLX Energy Services during the third quarter worth approximately $77,000. Barclays PLC lifted its holdings in KLX Energy Services by 56,523.3% during the 3rd quarter. Barclays PLC now owns 24,348 shares of the company’s stock worth $133,000 after purchasing an additional 24,305 shares during the last quarter. Geode Capital Management LLC boosted its stake in KLX Energy Services by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 160,342 shares of the company’s stock valued at $877,000 after purchasing an additional 7,328 shares during the period. Finally, XTX Topco Ltd acquired a new position in KLX Energy Services in the 3rd quarter valued at $146,000. Institutional investors and hedge funds own 42.69% of the company’s stock.

KLX Energy Services Company Profile

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.