KLX Energy Services (NASDAQ:KLXE) Stock Price Down 0.2% – Here’s Why

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) dropped 0.2% during trading on Thursday . The company traded as low as $5.91 and last traded at $5.97. Approximately 21,558 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 169,214 shares. The stock had previously closed at $5.98.

Analysts Set New Price Targets

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

KLX Energy Services Stock Performance

The company has a fifty day moving average price of $5.32 and a 200-day moving average price of $5.59. The company has a current ratio of 1.24, a quick ratio of 1.08 and a debt-to-equity ratio of 105.76.

KLX Energy Services (NASDAQ:KLXE) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts forecast that KLX Energy Services Holdings, Inc. will post -2.79 EPS for the current fiscal year.

Institutional Trading of KLX Energy Services

Several hedge funds and other institutional investors have recently bought and sold shares of KLXE. Allspring Global Investments Holdings LLC raised its holdings in KLX Energy Services by 89,460.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,956 shares of the company’s stock valued at $44,000 after buying an additional 8,946 shares during the period. Sequoia Financial Advisors LLC bought a new position in KLX Energy Services in the 3rd quarter valued at $58,000. Virtu Financial LLC bought a new position in KLX Energy Services in the 3rd quarter valued at $77,000. SkyView Investment Advisors LLC grew its position in KLX Energy Services by 20.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 15,000 shares of the company’s stock valued at $82,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in KLX Energy Services in the 2nd quarter valued at $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.