KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) Short Interest Update

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) saw a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 2,506,658 shares, an increase of 90.1% from the July 30th total of 1,318,617 shares. Based on an average daily volume of 936,093 shares, the days-to-cover ratio is currently 2.7 days. Currently, 12.5% of the shares of the stock are sold short.

Institutional Trading of KLX Energy Services

A number of hedge funds and other institutional investors have recently made changes to their positions in KLXE. Gendell Jeffrey L lifted its holdings in KLX Energy Services by 2.3% in the fourth quarter. Gendell Jeffrey L now owns 1,753,108 shares of the company’s stock valued at $3,313,000 after acquiring an additional 40,000 shares during the last quarter. Renaissance Technologies LLC increased its stake in KLX Energy Services by 10.2% during the first quarter. Renaissance Technologies LLC now owns 152,100 shares of the company’s stock worth $395,000 after acquiring an additional 14,100 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in KLX Energy Services in the fourth quarter valued at $189,000. Tulsa Wealth Advisors INC purchased a new stake in KLX Energy Services in the fourth quarter valued at $117,000. Finally, Gamco Investors INC. ET AL lifted its stake in shares of KLX Energy Services by 14.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 40,000 shares of the company’s stock valued at $76,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 42.69% of the company’s stock.

KLX Energy Services Price Performance

KLX Energy Services stock traded up $0.01 during trading on Monday, reaching $1.54. 664,690 shares of the company were exchanged, compared to its average volume of 331,703. KLX Energy Services has a 52-week low of $1.41 and a 52-week high of $4.50. The company has a market capitalization of $33.00 million, a P/E ratio of -0.49 and a beta of 0.85. The stock’s 50 day simple moving average is $2.09 and its two-hundred day simple moving average is $2.59.

KLX Energy Services (NASDAQ:KLXE) last issued its earnings results on Monday, August 10th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.82) by $0.18. The company had revenue of $167.30 million during the quarter, compared to analysts’ expectations of $167.50 million. As a group, equities analysts forecast that KLX Energy Services will post -0.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of KLX Energy Services in a research report on Friday, July 31st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

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.