KLX Energy Services Holdings Inc (NASDAQ:KLXE) was the recipient of a significant 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. Based on an average daily volume of 158,800 shares, the days-to-cover ratio is currently 14.1 days. Approximately 11.2% of the company’s shares are short sold.
In related news, VP Gary J. Roberts purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was bought at an average price of $19.25 per share, with a total value of $96,250.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theodore L. Weise purchased 2,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was bought at an average cost of $22.48 per share, with a total value of $44,960.00. The disclosure for this purchase can be found here. Insiders acquired 22,000 shares of company stock valued at $439,260 over the last quarter. Corporate insiders own 10.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KLXE. Gamco Investors INC. ET AL acquired a new stake in KLX Energy Services during the first quarter worth approximately $10,796,000. Investec Asset Management LTD acquired a new stake in KLX Energy Services during the first quarter worth approximately $10,055,000. Royce & Associates LP acquired a new stake in KLX Energy Services during the first quarter worth approximately $9,248,000. THB Asset Management acquired a new stake in KLX Energy Services during the first quarter worth approximately $7,441,000. Finally, Gabelli Funds LLC acquired a new stake in KLX Energy Services during the first quarter worth approximately $4,177,000. 86.00% of the stock is owned by institutional investors and hedge funds.
NASDAQ KLXE traded up $0.64 during trading hours on Friday, hitting $12.36. 236,194 shares of the company’s stock were exchanged, compared to its average volume of 146,524. The stock has a 50-day simple moving average of $16.36 and a 200 day simple moving average of $22.97. KLX Energy Services has a 1-year low of $11.40 and a 1-year high of $36.13. The firm has a market cap of $290.75 million and a price-to-earnings ratio of 4.40. The company has a current ratio of 3.07, a quick ratio of 2.87 and a debt-to-equity ratio of 0.63.
KLX Energy Services (NASDAQ:KLXE) last released its earnings results on Wednesday, May 22nd. The company reported $0.25 EPS for the quarter, topping the consensus estimate 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 business had revenue of $145.80 million during the quarter, compared to analysts’ expectations of $157.40 million. The business’s quarterly revenue was up 1457900.0% compared to the same quarter last year. On average, sell-side analysts anticipate that KLX Energy Services will post 1.19 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on KLXE. ValuEngine cut KLX Energy Services from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 23rd. Zacks Investment Research raised KLX Energy Services from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Piper Jaffray Companies cut KLX Energy Services from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $29.50 to $25.50 in a research note on Thursday, May 30th. One equities 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. The stock currently has an average rating of “Hold” and an average price target of $26.75.
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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