KLX Energy Services (NASDAQ:KLXE) Stock Price Down 9.5% – What’s Next?

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE)’s share price traded down 9.5% during mid-day trading on Thursday. The stock traded as low as $1.0401 and last traded at $1.05. 416,399 shares changed hands during trading, a decline of 40% from the average session volume of 693,424 shares. The stock had previously closed at $1.16.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut KLX Energy Services from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, September 28th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, KLX Energy Services presently has an average rating of “Reduce”.

KLX Energy Services Stock Performance

The company’s 50 day moving average price is $1.45 and its 200 day moving average price is $2.26. The company has a market cap of $22.50 million, a price-to-earnings ratio of -0.33 and a beta of 0.71.

KLX Energy Services (NASDAQ:KLXE) last released its quarterly 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 business had revenue of $167.30 million for the quarter, compared to the consensus estimate of $167.50 million. On average, equities research analysts forecast that KLX Energy Services Holdings, Inc. will post -1.18 EPS for the current fiscal year.

Hedge Funds Weigh In On KLX Energy Services

Hedge funds have recently bought and sold shares of the business. Engineers Gate Manager LP bought a new position in KLX Energy Services during the second quarter valued at about $72,000. NewEdge Advisors LLC acquired a new stake in shares of KLX Energy Services in the second quarter worth about $65,000. Bank of New York Mellon Corp bought a new stake in shares of KLX Energy Services during the 2nd quarter worth about $60,000. Renaissance Technologies LLC boosted its stake in shares of KLX Energy Services by 10.2% during the 1st quarter. Renaissance Technologies LLC now owns 152,100 shares of the company’s stock worth $395,000 after acquiring an additional 14,100 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of KLX Energy Services by 31.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 23,725 shares of the company’s stock valued at $62,000 after acquiring an additional 5,658 shares during the last quarter. 42.69% of the stock is owned by institutional investors and hedge funds.

About KLX Energy Services

KLX Energy Services Holdings, Inc provides oilfield services and equipment to exploration and production companies operating primarily in the United States. The company supports the development, completion, production and maintenance of oil and natural gas wells, with services designed for both new well construction and ongoing well operations.

Its offerings include completion and production services, well intervention, pressure pumping, wireline, coiled tubing, well testing, fluid management, stimulation and related technical services.