KLX Energy Services (NASDAQ:KLXE) Stock Price Down 10.5% – Should You Sell?

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) dropped 10.5% during trading on Monday . The stock traded as low as $2.33 and last traded at $2.38. Approximately 235,751 shares traded hands during trading, a decline of 11% from the average daily volume of 265,851 shares. The stock had previously closed at $2.66.

Analysts Set New Price Targets

A number of analysts have recently weighed in on KLXE shares. Zacks Research upgraded shares of KLX Energy Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KLX Energy Services in a report on Thursday, January 22nd. Finally, Wall Street Zen raised KLX Energy Services to a “hold” rating in a research report on Saturday, December 13th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

KLX Energy Services Stock Down 10.5%

The company’s 50-day moving average is $2.21 and its 200 day moving average is $1.95. The company has a market cap of $42.46 million, a price-to-earnings ratio of -0.55 and a beta of 0.48.

Insider Buying and Selling at KLX Energy Services

In other KLX Energy Services news, insider Max Bouthillette purchased 16,500 shares of KLX Energy Services stock in a transaction that occurred on 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 acquisition, the insider owned 142,865 shares of the company’s stock, valued at $238,584.55. This trade represents a 13.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Jain Global LLC acquired a new stake in KLX Energy Services in the 4th quarter worth about $29,000. Boothbay Fund Management LLC acquired a new position in shares of KLX Energy Services during the second quarter valued at approximately $30,000. Virtu Financial LLC purchased a new position in shares of KLX Energy Services in the third quarter valued at approximately $36,000. Meteora Capital LLC acquired a new stake in shares of KLX Energy Services in the second quarter worth approximately $37,000. Finally, Raymond James Financial Inc. boosted its stake in shares of KLX Energy Services by 532.0% in the third 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. Institutional investors and hedge funds own 42.69% of the company’s stock.

About KLX Energy Services

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.