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

Shares of KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) fell 2.9% on Tuesday . The company traded as low as $6.15 and last traded at $6.30. 7,336 shares were traded during trading, a decline of 96% from the average session volume of 168,523 shares. The stock had previously closed at $6.49.

Analyst Ratings Changes

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

KLX Energy Services Trading Down 3.5 %

The firm has a 50 day simple moving average of $5.38 and a 200 day simple moving average of $5.58. The company has a current ratio of 1.24, a quick ratio of 1.08 and a debt-to-equity ratio of 105.76. The firm has a market capitalization of $105.54 million, a PE ratio of -2.11 and a beta of 2.00.

KLX Energy Services (NASDAQ:KLXE) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.08. The firm 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%. Equities analysts expect that KLX Energy Services Holdings, Inc. will post -2.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On KLX Energy Services

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in KLX Energy Services by 89,460.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,956 shares of the company’s stock worth $44,000 after purchasing an additional 8,946 shares during the period. Sequoia Financial Advisors LLC bought a new position in KLX Energy Services in the 3rd quarter worth $58,000. Virtu Financial LLC bought a new position in KLX Energy Services in the 3rd quarter worth $77,000. SkyView Investment Advisors LLC raised its holdings 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 worth $82,000 after purchasing an additional 2,500 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in KLX Energy Services in the 2nd quarter worth $84,000. 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.