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

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) was the target of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 2,506,658 shares, a growth of 90.1% from the July 30th total of 1,318,617 shares. Approximately 12.5% of the shares of the company are sold short. Based on an average daily volume of 936,093 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of KLX Energy Services in a report on Friday, July 31st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC bought a new position in shares of KLX Energy Services in the first quarter worth about $26,000. Jain Global LLC bought a new position in KLX Energy Services in the 4th quarter valued at approximately $29,000. Boothbay Fund Management LLC acquired a new stake in KLX Energy Services in the second quarter valued at approximately $30,000. Virtu Financial LLC bought a new stake in shares of KLX Energy Services during the third quarter worth $36,000. Finally, Raymond James Financial Inc. grew its stake in shares of KLX Energy Services by 532.0% during the third quarter. Raymond James Financial Inc. now owns 22,115 shares of the company’s stock worth $42,000 after buying an additional 18,616 shares during the last quarter. Institutional investors own 42.69% of the company’s stock.

KLX Energy Services Price Performance

KLX Energy Services stock traded up $0.03 during mid-day trading on Friday, reaching $1.53. 816,477 shares of the company were exchanged, compared to its average volume of 637,179. The firm has a market cap of $32.79 million, a PE ratio of -0.48 and a beta of 0.85. The company has a fifty day simple moving average of $2.09 and a 200-day simple moving average of $2.59. KLX Energy Services has a 12 month low of $1.41 and a 12 month high of $4.50.

KLX Energy Services (NASDAQ:KLXE) last released its earnings results on Monday, August 10th. The company reported ($0.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.18. The company had revenue of $167.30 million for the quarter, compared to the consensus estimate of $167.50 million. Sell-side analysts anticipate that KLX Energy Services will post -0.96 earnings per share for the current year.

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.