Short Interest in KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) Decreases By 7.8%

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 1,420,000 shares, a decrease of 7.8% from the September 30th total of 1,540,000 shares. Based on an average daily volume of 132,000 shares, the short-interest ratio is currently 10.8 days.

KLX Energy Services Price Performance

Shares of NASDAQ KLXE opened at $4.42 on Friday. The company has a fifty day moving average price of $5.71 and a 200 day moving average price of $5.75. The firm has a market cap of $74.55 million, a PE ratio of -5.65 and a beta of 1.97. The company has a current ratio of 1.66, a quick ratio of 1.44 and a debt-to-equity ratio of 32.22. KLX Energy Services has a 1-year low of $4.18 and a 1-year high of $12.13.

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

Wall Street Analyst Weigh In

KLXE has been the subject of several research analyst reports. Singular Research raised shares of KLX Energy Services to a “strong-buy” rating in a report on Monday, August 12th. Piper Sandler decreased their target price on KLX Energy Services from $6.50 to $4.50 and set a “neutral” rating for the company in a research note on Monday, July 15th.

Hedge Funds Weigh In On KLX Energy Services

A number of large investors have recently modified their holdings of KLXE. Clifford Capital Partners LLC raised its holdings in KLX Energy Services by 5.6% during the first quarter. Clifford Capital Partners LLC now owns 61,758 shares of the company’s stock worth $478,000 after acquiring an additional 3,295 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of 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 worth $44,000 after purchasing an additional 8,946 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of KLX Energy Services during the 3rd quarter worth approximately $58,000. Paloma Partners Management Co acquired a new stake in shares of KLX Energy Services in the 1st quarter valued at approximately $91,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of KLX Energy Services by 90.9% in the second quarter. Dimensional Fund Advisors LP now owns 26,215 shares of the company’s stock valued at $130,000 after buying an additional 12,485 shares in the last quarter. 42.69% of the stock is currently owned by institutional investors and hedge funds.

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.