KLX Energy Services (NASDAQ:KLXE) Trading Up 6.5% – Should You Buy?

Shares of KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) were up 6.5% on Monday . The company traded as high as $3.03 and last traded at $2.97. Approximately 210,080 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 374,304 shares. The stock had previously closed at $2.79.

Analyst Upgrades and Downgrades

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

KLX Energy Services Stock Up 5.2%

The company has a market capitalization of $60.53 million, a P/E ratio of -0.80 and a beta of 0.77. The company has a 50-day moving average of $3.03 and a two-hundred day moving average of $2.52.

KLX Energy Services (NASDAQ:KLXE) last released 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 the consensus estimate of $146.50 million. As a group, equities analysts expect that KLX Energy Services Holdings, Inc. will post -3.18 EPS for the current fiscal year.

Institutional Investors Weigh In On KLX Energy Services

Hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. boosted its position 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 valued at $42,000 after purchasing an additional 18,616 shares in the last quarter. Gendell Jeffrey L boosted its position in shares of KLX Energy Services by 2.3% during the fourth quarter. Gendell Jeffrey L now owns 1,753,108 shares of the company’s stock valued at $3,313,000 after purchasing an additional 40,000 shares in the last quarter. Renaissance Technologies LLC raised its stake in KLX Energy Services by 6.2% during the fourth quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock valued at $261,000 after buying an additional 8,100 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in KLX Energy Services during the fourth quarter valued at $189,000. Finally, Gamco Investors INC. ET AL raised its stake in KLX Energy Services by 52.2% during the third 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 last quarter. 42.69% of the stock is currently owned by institutional investors.

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.