KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) Sees Large Increase in Short Interest

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

Hedge Funds Weigh In On KLX Energy Services

Institutional investors and hedge funds have recently bought and sold shares of the company. Boothbay Fund Management LLC acquired a new position in KLX Energy Services in the second quarter valued at approximately $30,000. Gamco Investors INC. ET AL raised its holdings in KLX Energy Services by 52.2% in the 3rd quarter. Gamco Investors INC. ET AL now owns 35,000 shares of the company’s stock valued at $67,000 after buying an additional 12,000 shares during the period. Virtu Financial LLC acquired a new position in KLX Energy Services in the third quarter valued at about $36,000. Raymond James Financial Inc. boosted its stake in 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 buying an additional 18,616 shares during the period. Finally, Williams & Novak LLC acquired a new stake in shares of KLX Energy Services during the fourth quarter valued at about $44,000. 42.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

KLX Energy Services Stock Performance

NASDAQ:KLXE opened at $1.54 on Tuesday. KLX Energy Services has a one year low of $1.41 and a one year high of $4.50. The stock has a market cap of $33.00 million, a PE ratio of -0.49 and a beta of 0.85. The stock has a 50 day moving average price of $2.08 and a 200 day moving average price of $2.58.

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, analysts predict that KLX Energy Services will post -0.96 earnings per share for the current fiscal year.

About KLX Energy Services

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.