KLX Energy Services (NASDAQ:KLXE) Trading 0.7% Higher - Still a Buy?

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE - Get Free Report)'s stock price was up 0.7% during mid-day trading on Wednesday . The company traded as high as $6.03 and last traded at $5.83. Approximately 22,403 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 169,547 shares. The stock had previously closed at $5.79.

Analyst Ratings Changes

Separately, Singular Research raised KLX Energy Services to a "strong-buy" rating in a research note on Monday, August 12th.

KLX Energy Services Trading Up 1.4 %

The stock has a market cap of $98.97 million, a P/E ratio of -1.97 and a beta of 2.00. The company has a quick ratio of 1.08, a current ratio of 1.24 and a debt-to-equity ratio of 105.76. The business's 50 day simple moving average is $5.30 and its two-hundred day simple moving average is $5.58.

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

Hedge Funds Weigh In On KLX Energy Services

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of KLX Energy Services by 89,460.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,956 shares of the company's stock worth $44,000 after acquiring an additional 8,946 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in KLX Energy Services in the third quarter worth about $58,000. Paloma Partners Management Co bought a new stake in KLX Energy Services during the 1st quarter valued at approximately $91,000. Virtu Financial LLC bought a new stake in KLX Energy Services in the 3rd quarter worth approximately $77,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of KLX Energy Services in the 2nd quarter valued at about $84,000. 42.69% of the stock is currently owned by institutional investors.

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.

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