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

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) was the recipient of a large decline in short interest during 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 trading volume of 132,000 shares, the days-to-cover ratio is presently 10.8 days.

Hedge Funds Weigh In On KLX Energy Services

Institutional investors and hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new position in shares of KLX Energy Services during the 3rd quarter valued at $58,000. Clifford Capital Partners LLC lifted its holdings in KLX Energy Services by 13.9% during the second 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 last quarter. Cubist Systematic Strategies LLC bought a new position in KLX Energy Services during the second quarter worth about $156,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of KLX Energy Services in the second quarter worth about $84,000. Finally, Dimensional Fund Advisors LP raised its position in shares of KLX Energy Services by 90.9% in the second quarter. Dimensional Fund Advisors LP now owns 26,215 shares of the company’s stock valued at $130,000 after purchasing an additional 12,485 shares during the period. 42.69% of the stock is owned by institutional investors.

KLX Energy Services Stock Performance

KLXE stock traded down $0.09 during midday trading on Thursday, hitting $4.42. The company’s stock had a trading volume of 37,284 shares, compared to its average volume of 171,699. KLX Energy Services has a 1 year low of $4.18 and a 1 year high of $12.13. 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 50-day moving average price is $5.71 and its 200 day moving average price is $5.75. The company has a quick ratio of 1.44, a current ratio of 1.66 and a debt-to-equity ratio of 32.22.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KLXE. Singular Research raised shares of KLX Energy Services to a “strong-buy” rating in a research report on Monday, August 12th. Piper Sandler dropped 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 report on Monday, July 15th.

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.