KLX Energy Services (NASDAQ:KLXE) Shares Up 0.2% – Still a Buy?

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) shares were up 0.2% during mid-day trading on Thursday . The stock traded as high as $6.23 and last traded at $6.02. Approximately 106,656 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 168,618 shares. The stock had previously closed at $6.01.

Analyst Upgrades and Downgrades

Separately, Singular Research raised shares of KLX Energy Services to a “strong-buy” rating in a research report on Monday, August 12th.

KLX Energy Services Trading Up 0.2 %

The stock has a market capitalization of $101.50 million, a P/E ratio of -2.03 and a beta of 2.00. The firm’s 50 day simple moving average is $5.40 and its two-hundred day simple moving average is $5.58. The company has a quick ratio of 1.08, a current ratio of 1.24 and a debt-to-equity ratio of 105.76.

KLX Energy Services (NASDAQ:KLXE) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.08. The business had revenue of $188.90 million for the quarter, compared to the consensus estimate of $181.60 million. KLX Energy Services had a negative return on equity of 244.12% and a negative net margin of 6.45%. As a group, analysts forecast that KLX Energy Services Holdings, Inc. will post -2.79 earnings per share for the current fiscal year.

Institutional Trading of KLX Energy Services

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of KLX Energy Services by 89,460.0% in the second 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. Sequoia Financial Advisors LLC purchased a new stake in shares of KLX Energy Services in the third quarter valued at about $58,000. Virtu Financial LLC bought a new position in shares of KLX Energy Services during the third quarter valued at about $77,000. SkyView Investment Advisors LLC boosted its holdings in KLX Energy Services by 20.0% during the third quarter. SkyView Investment Advisors LLC now owns 15,000 shares of the company’s stock worth $82,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in KLX Energy Services in the 2nd quarter valued at about $84,000. Institutional investors and hedge funds own 42.69% of the company’s stock.

About KLX Energy Services

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.