KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) Short Interest Update

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 1,540,000 shares, a growth of 18.5% from the September 15th total of 1,300,000 shares. Based on an average daily volume of 140,400 shares, the short-interest ratio is currently 11.0 days.

KLX Energy Services Stock Down 6.3 %

Shares of KLX Energy Services stock opened at $5.20 on Wednesday. The firm’s 50 day moving average price is $6.14 and its 200-day moving average price is $5.98. The company has a quick ratio of 1.44, a current ratio of 1.66 and a debt-to-equity ratio of 32.22. KLX Energy Services has a 52-week low of $4.18 and a 52-week high of $12.13. The company has a market cap of $87.71 million, a P/E ratio of -6.67 and a beta of 1.97.

KLX Energy Services (NASDAQ:KLXE) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.32. KLX Energy Services had a negative net margin of 4.13% and a negative return on equity of 94.97%. The firm had revenue of $180.20 million for the quarter, compared to the consensus estimate of $179.80 million. On average, sell-side analysts predict that KLX Energy Services will post -2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in KLX Energy Services by 89,460.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,956 shares of the company’s stock valued at $44,000 after purchasing an additional 8,946 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in KLX Energy Services in the 2nd quarter worth $84,000. Paloma Partners Management Co purchased a new position in KLX Energy Services in the 1st quarter worth $91,000. Virtu Financial LLC acquired a new stake in KLX Energy Services during the 1st quarter worth about $122,000. Finally, Dimensional Fund Advisors LP grew its stake in KLX Energy Services by 90.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,215 shares of the company’s stock valued at $130,000 after purchasing an additional 12,485 shares during the last quarter. Hedge funds and other institutional investors own 42.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Piper Sandler cut their target price on shares of KLX Energy Services from $6.50 to $4.50 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Singular Research raised shares of KLX Energy Services to a “strong-buy” rating in a research report on Monday, August 12th.

KLX Energy Services Company Profile

KLX Energy Services Holdings, Inc provides drilling, completions, production, and well intervention services and products to the onshore oil and gas producing regions of the United States. The company operates through three segments: Southwest, Rocky Mountains, and Northeast/Mid-Con. It provides directional drilling services; downhole navigational and rental tools businesses and support services, including well planning, site supervision, accommodation rentals, and other drilling rentals; and various technologies, including gamma ray, azimuthal gamma ray, real-time continuous inclination and azimuth, rotary steerable, pressure-while-drilling, mode shifting, stick-slip and destructive dynamics, dynamic sequencing and real-time shock, and vibration modules.