KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) Short Interest Down 11.7% in July

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 1,440,000 shares, a decrease of 11.7% from the July 15th total of 1,630,000 shares. Based on an average trading volume of 208,600 shares, the days-to-cover ratio is currently 6.9 days.

KLX Energy Services Trading Up 3.6 %

Shares of NASDAQ KLXE traded up $0.24 during mid-day trading on Friday, reaching $6.99. The company had a trading volume of 327,650 shares, compared to its average volume of 189,091. The stock has a market cap of $117.90 million, a price-to-earnings ratio of -8.96 and a beta of 2.04. KLX Energy Services has a 52 week low of $4.18 and a 52 week high of $12.56. The business’s 50-day moving average is $5.50 and its 200-day moving average is $6.60. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 18.83.

Wall Street Analysts Forecast Growth

KLXE has been the subject of a number of recent analyst reports. Singular Research raised shares of KLX Energy Services to a “strong-buy” rating in a research note on Monday, August 12th. Piper Sandler dropped their target price on KLX Energy Services from $6.50 to $4.50 and set a “neutral” rating for the company in a research report on Monday, July 15th.

Hedge Funds Weigh In On KLX Energy Services

A number of hedge funds have recently added to or reduced their stakes in KLXE. Findell Capital Management LLC bought a new position in KLX Energy Services in the fourth quarter worth approximately $5,630,000. CastleKnight Management LP grew its position in shares of KLX Energy Services by 139.2% during the 4th quarter. CastleKnight Management LP now owns 173,041 shares of the company’s stock worth $1,948,000 after buying an additional 100,708 shares in the last quarter. Gendell Jeffrey L increased its stake in shares of KLX Energy Services by 6.4% during the first quarter. Gendell Jeffrey L now owns 1,624,096 shares of the company’s stock valued at $12,571,000 after buying an additional 97,301 shares during the period. First Eagle Investment Management LLC bought a new stake in shares of KLX Energy Services in the fourth quarter valued at about $868,000. Finally, Vanguard Group Inc. lifted its stake in KLX Energy Services by 5.2% in the first quarter. Vanguard Group Inc. now owns 717,334 shares of the company’s stock worth $5,552,000 after acquiring an additional 35,189 shares during the period. 42.69% of the stock is currently owned by institutional investors.

About KLX Energy Services

KLX Energy Services Holdings, Inc provides drilling, completions, production, and well intervention services and products to the onshore oil and gas producing regions of the United States. The company operates through three segments: Southwest, Rocky Mountains, and Northeast/Mid-Con. It provides directional drilling services; downhole navigational and rental tools businesses and support services, including well planning, site supervision, accommodation rentals, and other drilling rentals; and various technologies, including gamma ray, azimuthal gamma ray, real-time continuous inclination and azimuth, rotary steerable, pressure-while-drilling, mode shifting, stick-slip and destructive dynamics, dynamic sequencing and real-time shock, and vibration modules.