Short Interest in KLX Energy Services Holdings Inc (NASDAQ:KLXE) Grows By 8.4%

KLX Energy Services Holdings Inc (NASDAQ:KLXE) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 2,231,800 shares, a growth of 8.4% from the June 30th total of 2,059,300 shares. Currently, 11.2% of the shares of the stock are short sold. Based on an average trading volume of 158,800 shares, the days-to-cover ratio is currently 14.1 days.

A number of research analysts have recently weighed in on the company. ValuEngine downgraded KLX Energy Services from a “sell” rating to a “strong sell” rating in a report on Thursday, May 23rd. Piper Jaffray Companies cut KLX Energy Services from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $29.50 to $25.50 in a research report on Thursday, May 30th. Finally, Zacks Investment Research raised KLX Energy Services from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $26.75.

Shares of NASDAQ:KLXE traded up $0.64 on Friday, reaching $12.36. The company had a trading volume of 236,194 shares, compared to its average volume of 146,524. KLX Energy Services has a twelve month low of $11.40 and a twelve month high of $36.13. The stock has a 50-day moving average price of $16.52 and a 200 day moving average price of $23.03. The stock has a market capitalization of $290.75 million and a P/E ratio of 4.40. The company has a quick ratio of 2.87, a current ratio of 3.07 and a debt-to-equity ratio of 0.63.

KLX Energy Services (NASDAQ:KLXE) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.17. KLX Energy Services had a return on equity of 14.25% and a net margin of 0.68%. The company had revenue of $145.80 million during the quarter, compared to analysts’ expectations of $157.40 million. The company’s quarterly revenue was up 1457900.0% compared to the same quarter last year. On average, sell-side analysts predict that KLX Energy Services will post 1.19 earnings per share for the current fiscal year.

In other KLX Energy Services news, Director Theodore L. Weise purchased 2,000 shares of the stock in a transaction dated Friday, May 24th. The shares were acquired at an average price of $22.48 per share, for a total transaction of $44,960.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gary J. Roberts purchased 5,000 shares of the stock in a transaction dated Wednesday, June 12th. The shares were acquired at an average price of $19.25 per share, for a total transaction of $96,250.00. The disclosure for this purchase can be found here. Insiders purchased a total of 22,000 shares of company stock worth $439,260 over the last 90 days. Insiders own 10.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC bought a new position in KLX Energy Services during the first quarter valued at about $25,000. Bank of Montreal Can bought a new stake in shares of KLX Energy Services in the 1st quarter valued at approximately $38,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of KLX Energy Services in the 1st quarter worth approximately $68,000. Public Employees Retirement Association of Colorado acquired a new position in shares of KLX Energy Services in the 1st quarter worth approximately $94,000. Finally, SG Americas Securities LLC boosted its holdings in shares of KLX Energy Services by 15.2% in the 2nd quarter. SG Americas Securities LLC now owns 5,582 shares of the company’s stock worth $114,000 after acquiring an additional 736 shares in the last quarter. 86.00% of the stock is owned by institutional investors and hedge funds.

About KLX Energy Services

KLX Energy Services Holdings, Inc provides completion, intervention, and production services and products to the onshore oil and gas producing regions of the United States. It offers a range of technical services, and related tools and equipment to companies engaged in the exploration and development of North American onshore conventional and unconventional oil and natural gas reserves.

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