KLX Energy Services (NASDAQ:KLXE) Trading Down 2.4% – Time to Sell?

Shares of KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) dropped 2.4% on Tuesday . The stock traded as low as $2.44 and last traded at $2.49. 104,942 shares traded hands during trading, a decline of 51% from the average daily volume of 215,678 shares. The stock had previously closed at $2.55.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of KLX Energy Services in a research note on Monday, May 4th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

KLX Energy Services Stock Down 2.4%

The firm’s 50 day moving average is $2.90 and its 200 day moving average is $2.66. The firm has a market capitalization of $49.58 million, a price-to-earnings ratio of -0.66 and a beta of 0.79.

KLX Energy Services (NASDAQ:KLXE) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($1.18) EPS for the quarter, beating analysts’ consensus estimates of ($1.27) by $0.09. The firm had revenue of $144.70 million for the quarter, compared to analysts’ expectations of $146.50 million. On average, sell-side analysts predict that KLX Energy Services Holdings, Inc. will post -3.15 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC acquired a new position in KLX Energy Services in the 1st quarter valued at approximately $26,000. Jain Global LLC purchased a new position in shares of KLX Energy Services during the 4th quarter valued at $29,000. Boothbay Fund Management LLC acquired a new position in shares of KLX Energy Services in the second quarter worth $30,000. Virtu Financial LLC acquired a new position in shares of KLX Energy Services in the third quarter worth $36,000. Finally, Raymond James Financial Inc. raised its holdings in shares of KLX Energy Services by 532.0% during the third quarter. Raymond James Financial Inc. now owns 22,115 shares of the company’s stock worth $42,000 after acquiring an additional 18,616 shares in the last quarter. 42.69% of the stock is owned by hedge funds and other institutional investors.

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.