KLX Energy Services (NASDAQ:KLXE) Stock Price Down 9.5% – What’s Next?

Shares of KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) dropped 9.5% during mid-day trading on Thursday. The company traded as low as $1.0401 and last traded at $1.05. 416,399 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 693,424 shares. The stock had previously closed at $1.16.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut KLX Energy Services from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 28th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, KLX Energy Services has a consensus rating of “Reduce”.

KLX Energy Services Price Performance

The company has a market capitalization of $23.57 million, a P/E ratio of -0.35 and a beta of 0.71. The company’s 50-day moving average price is $1.44 and its two-hundred day moving average price is $2.25.

KLX Energy Services (NASDAQ:KLXE) last announced its earnings results on Monday, August 10th. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.82) by $0.18. The company had revenue of $167.30 million for the quarter, compared to the consensus estimate of $167.50 million. On average, analysts anticipate that KLX Energy Services Holdings, Inc. will post -1.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KLXE. PNC Financial Services Group Inc. lifted its holdings in shares of KLX Energy Services by 31.3% during the first quarter. PNC Financial Services Group Inc. now owns 23,725 shares of the company’s stock worth $62,000 after buying an additional 5,658 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of KLX Energy Services in the first quarter valued at about $26,000. Renaissance Technologies LLC grew its stake in shares of KLX Energy Services by 10.2% in the first quarter. Renaissance Technologies LLC now owns 152,100 shares of the company’s stock valued at $395,000 after acquiring an additional 14,100 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of KLX Energy Services in the first quarter valued at about $42,000. Finally, Bank of New York Mellon Corp bought a new position in KLX Energy Services during the second quarter worth about $60,000. 42.69% of the stock is owned by institutional investors and hedge funds.

About KLX Energy Services

KLX Energy Services Holdings, Inc provides oilfield services and equipment to exploration and production companies operating primarily in the United States. The company supports the development, completion, production and maintenance of oil and natural gas wells, with services designed for both new well construction and ongoing well operations.

Its offerings include completion and production services, well intervention, pressure pumping, wireline, coiled tubing, well testing, fluid management, stimulation and related technical services.