KLX Energy Services (NASDAQ:KLXE) Trading Down 2.9% – Time to Sell?

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE)’s share price was down 2.9% during trading on Tuesday . The company traded as low as $6.15 and last traded at $6.30. Approximately 7,336 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 168,523 shares. The stock had previously closed at $6.49.

Analyst Upgrades and Downgrades

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

KLX Energy Services Trading Down 3.5 %

The company has a quick ratio of 1.08, a current ratio of 1.24 and a debt-to-equity ratio of 105.76. The stock has a fifty day simple moving average of $5.38 and a 200 day simple moving average of $5.58. The firm has a market capitalization of $105.54 million, a P/E ratio of -2.11 and a beta of 2.00.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KLXE. Allspring Global Investments Holdings LLC grew its position in shares of KLX Energy Services by 89,460.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 8,956 shares of the company’s stock valued at $44,000 after purchasing an additional 8,946 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of KLX Energy Services during the third quarter valued at about $58,000. Virtu Financial LLC purchased a new position in shares of KLX Energy Services during the third quarter valued at about $77,000. SkyView Investment Advisors LLC grew its position in shares of KLX Energy Services by 20.0% during the third quarter. SkyView Investment Advisors LLC now owns 15,000 shares of the company’s stock valued at $82,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of KLX Energy Services during the second quarter valued at about $84,000. Hedge funds and other institutional investors own 42.69% of the company’s stock.

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.