KLX Energy Services (NASDAQ:KLXE) Trading Up 6.5% – Here’s What Happened

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE)’s share price shot up 6.5% on Monday . The stock traded as high as $3.03 and last traded at $2.97. 210,080 shares were traded during trading, a decline of 44% from the average session volume of 374,304 shares. The stock had previously closed at $2.79.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of KLX Energy Services in a research note on Monday, May 4th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

KLX Energy Services Stock Performance

The company has a 50 day simple moving average of $3.03 and a two-hundred day simple moving average of $2.51. The firm has a market cap of $59.13 million, a PE ratio of -0.78 and a beta of 0.77.

KLX Energy Services (NASDAQ:KLXE) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($1.18) earnings per share for the quarter, beating the consensus estimate of ($1.27) by $0.09. The firm had revenue of $144.70 million for the quarter, compared to analysts’ expectations of $146.50 million. As a group, research analysts predict that KLX Energy Services Holdings, Inc. will post -3.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On KLX Energy Services

Several institutional investors and hedge funds have recently modified their holdings of KLXE. Boothbay Fund Management LLC acquired a new position in shares of KLX Energy Services in the 2nd quarter valued at about $30,000. Gamco Investors INC. ET AL lifted its holdings in shares of 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 buying an additional 12,000 shares during the period. Virtu Financial LLC acquired a new position in shares of KLX Energy Services in the 3rd quarter valued at about $36,000. Raymond James Financial Inc. lifted its holdings in shares of KLX Energy Services by 532.0% in the 3rd quarter. Raymond James Financial Inc. now owns 22,115 shares of the company’s stock valued at $42,000 after buying an additional 18,616 shares during the period. Finally, Williams & Novak LLC acquired a new position in shares of KLX Energy Services in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 42.69% of the company’s stock.

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.