KLX Energy Services (NASDAQ:KLXE) Stock Price Down 5.5% – Here’s What Happened

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) shares traded down 5.5% during trading on Wednesday . The company traded as low as $2.21 and last traded at $2.23. 244,391 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 230,817 shares. The stock had previously closed at $2.36.

Wall Street Analyst Weigh In

KLXE has been the subject of a number of recent research reports. Wall Street Zen upgraded KLX Energy Services to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of KLX Energy Services in a research report on Wednesday, October 8th. Finally, Zacks Research raised KLX Energy Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

KLX Energy Services Price Performance

The business has a 50 day moving average of $1.79 and a 200 day moving average of $1.84. The firm has a market capitalization of $39.78 million, a price-to-earnings ratio of -0.52 and a beta of 0.42.

KLX Energy Services (NASDAQ:KLXE) last released its earnings results on Wednesday, November 5th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.01). The business had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $164.10 million. As a group, equities analysts predict that KLX Energy Services Holdings, Inc. will post -2.79 EPS for the current year.

Insiders Place Their Bets

In other news, insider Max Bouthillette acquired 16,500 shares of KLX Energy Services stock in a transaction that occurred on Tuesday, December 16th. The shares were acquired at an average price of $1.67 per share, with a total value of $27,555.00. Following the purchase, the insider directly owned 142,865 shares of the company’s stock, valued at $238,584.55. The trade was a 13.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.27% of the stock is owned by insiders.

Institutional Trading of KLX Energy Services

A number of large investors have recently made changes to their positions in the company. Boothbay Fund Management LLC bought a new position in KLX Energy Services during the second quarter worth about $30,000. Virtu Financial LLC acquired a new position in shares of KLX Energy Services in the 3rd quarter valued at approximately $36,000. Meteora Capital LLC bought a new stake in KLX Energy Services during the 2nd quarter worth approximately $37,000. Raymond James Financial Inc. raised its holdings in KLX Energy Services by 532.0% during the 3rd quarter. Raymond James Financial Inc. now owns 22,115 shares of the company’s stock worth $42,000 after buying an additional 18,616 shares during the period. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of KLX Energy Services by 52.2% in 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 period. Institutional investors own 42.69% of the company’s stock.

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.