KLX Energy Services (NASDAQ:KLXE) Stock Price Down 5.5% – What’s Next?

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) shares were down 5.5% during trading on Wednesday . The stock traded as low as $2.21 and last traded at $2.23. Approximately 244,391 shares traded hands during mid-day trading, an increase of 6% from the average daily volume of 230,817 shares. The stock had previously closed at $2.36.

Analyst Ratings Changes

A number of analysts have recently commented on KLXE shares. Wall Street Zen upgraded KLX Energy Services to a “hold” rating in a report on Saturday, December 13th. Zacks Research raised KLX Energy Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KLX Energy Services in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, KLX Energy Services currently has a consensus rating of “Reduce”.

KLX Energy Services Stock Down 5.5%

The stock has a market capitalization of $39.78 million, a P/E ratio of -0.52 and a beta of 0.42. The stock has a 50 day simple moving average of $1.79 and a two-hundred day simple moving average of $1.84.

KLX Energy Services (NASDAQ:KLXE) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.01). The firm had revenue of $166.70 million during the quarter, compared to the consensus estimate of $164.10 million. Sell-side analysts predict that KLX Energy Services Holdings, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Max Bouthillette acquired 16,500 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was bought at an average price of $1.67 per share, with a total value of $27,555.00. Following the transaction, the insider directly owned 142,865 shares in the company, valued at approximately $238,584.55. The trade was a 13.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On KLX Energy Services

Several hedge funds have recently bought and sold shares of KLXE. Boothbay Fund Management LLC bought a new position in KLX Energy Services during the second quarter worth about $30,000. Virtu Financial LLC bought a new position in shares of KLX Energy Services during the 3rd quarter worth approximately $36,000. Meteora Capital LLC bought a new position in shares of KLX Energy Services during the 2nd quarter worth approximately $37,000. Raymond James Financial Inc. increased its holdings in shares of KLX Energy Services by 532.0% during the 3rd quarter. Raymond James Financial Inc. now owns 22,115 shares of the company’s stock worth $42,000 after acquiring an additional 18,616 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in KLX Energy Services by 52.2% in the 3rd quarter. Gamco Investors INC. ET AL now owns 35,000 shares of the company’s stock valued at $67,000 after acquiring an additional 12,000 shares during the period. 42.69% of the stock is currently owned by institutional investors and hedge funds.

KLX Energy Services Company Profile

KLX Energy Services is a provider of completion tools and pumping equipment for the upstream oil and gas sector, offering high-pressure pumping systems, pressure control equipment, solids control services and downhole rental tools. The company supports well completion and stimulation operations by supplying, installing and maintaining critical equipment used in hydraulic fracturing, coiled tubing interventions and associated wellsite activities.

The firm’s product portfolio includes deck-mounted and portable fracturing pumps, high-pressure manifolds, flowback and well testing units, filtration and separation systems, and wellsite automation solutions.