As of Tuesday, KLX Energy Services Holdings Inc.’s (NASDAQ:KLXE) stock closed at $15.26, down from $17.31 the previous day. While KLX Energy Services Holdings Inc. has underperformed by -11.84%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, KLXE rose by 392.26%, with highs and lows ranging from $18.63 to $3.02, whereas the simple moving average jumped by 82.72% in the last 200 days.
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On March 16, 2020, Gabelli & Co Downgraded KLX Energy Services Holdings Inc. (NASDAQ: KLXE) to Hold. A report published by Piper Jaffray on May 30, 2019, Downgraded its rating to ‘Neutral’ for KLXE. Jefferies also rated KLXE shares as ‘Buy’, setting a target price of $35 on the company’s shares in an initiating report dated April 03, 2019. Gabelli & Co initiated its ‘Buy’ rating for KLXE, as published in its report on October 11, 2018.
Analysis of KLX Energy Services Holdings Inc. (KLXE)
Further, the quarter-over-quarter increase in sales is 59.40%, showing a positive trend in the upcoming months.
One of the most important indicators of KLX Energy Services Holdings Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. Taking into account the quick ratio of the company, currently set at 1.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and KLXE is recording 304.18K average volume. On a monthly basis, the volatility of the stock is set at 8.63%, whereas on a weekly basis, it is put at 11.13%, with a loss of -8.62% over the past seven days. Furthermore, long-term investors anticipate a median target price of $24.50, showing growth from the present price of $15.26, which can serve as yet another indication of whether KLXE is worth investing in or should be passed over.
How Do You Analyze KLX Energy Services Holdings Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.10%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 29.60% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in KLXE shares?
The recent increase in stakes in KLXE appears to be a result of several institutional investors and hedge funds increasing their positions. Tontine Associates LLC’s position in KLXE has increased by 28.05% in the first quarter. The company now owns 788,356 shares of the stock, with a value of $12.44 million, following the purchase of 172,692 additional shares during the last quarter. During the last quarter, the company picked up 0 additional shares for a total stake of worth $7.94 million, bringing number of shares owned by the company to 503,100.
During the first quarter, Millennium Management LLC added a 2,511 position in KLXE. The Vanguard Group, Inc. sold an additional 80224.0 shares in the last quarter, decreasing its holdings by -21.07%, now holding 0.3 million shares worth $4.74 million. At the end of the first quarter, Connacht Asset Management LP decreased its KLXE holdings by -42.76% and now holds 0.3 million KLXE shares valued at $4.66 million with the lessened -0.22 million shares during the period. KLXE shares are owned by institutional investors to the tune of 29.60% at present.
