Gabelli & Co analysts downgrades a Hold rating for KLX Energy Services Holdings Inc. (KLXE)


KLX Energy Services Holdings Inc.’s recent filing unveils that its insider Baker Christopher J. unloaded Company’s shares for reported $51525.0 on Aug 01. In the deal valued at $11.45 per share,4,500 shares were sold. As a result of this transaction, Baker Christopher J. now holds 148,541 shares worth roughly $ 1.72 million.

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Then, Bouthillette Max sold 1,000 shares, generating $11,570 in total proceeds. Upon selling the shares at $11.57, the insider now owns 50,241 shares.

Before that, Baker Christopher J. sold 4,500 shares. KLX Energy Services Holdings Inc. shares valued at $43,515 were divested by the insider at a price of $9.67 per share. As a result of the transaction, Baker Christopher J. now holds 153,041 shares, worth roughly $1.78 million.

Gabelli & Co downgraded its KLX Energy Services Holdings Inc. [KLXE] rating to a Hold from a a Buy in a research note published on Friday.

Price Performance Review of KLXE

On Friday, KLX Energy Services Holdings Inc. [NASDAQ:KLXE] saw its stock jump 11.58% to $11.61. On the same session, the stock had its day’s lowest price of $10.43, but rose to a high of $11.64. Over the last five days, the stock has gained 12.17%. KLX Energy Services Holdings Inc. shares have fallen nearly -32.93% since the year began. Nevertheless, the stocks have risen 52.76% over the past one year. While a 52-week high of $18.63 was reached on 01/03/23, a 52-week low of $5.02 was recorded on 06/01/23. SMA at 50 days reached $10.71, while 200 days put it at $12.12. A total of 0.37 million shares were traded, compared to the trading of 0.13 million shares in the previous session.

Levels Of Support And Resistance For KLXE Stock

The 24-hour chart illustrates a support level at 10.81, which if violated will result in even more drops to 10.02. On the upside, there is a resistance level at 12.02. A further resistance level may holdings at 12.44. The Relative Strength Index (RSI) on the 14-day chart is 59.96, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.19, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 7.54%. Stochastics %K at 46.85% indicates the stock is a holding.

How much short interest is there in KLX Energy Services Holdings Inc.?

A steep rise in short interest was recorded in KLX Energy Services Holdings Inc. stocks on Aug 14, 2023, dropping by -0.4 million shares to a total of 1.16 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.56 million shares. There was a decline of -34.48%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 8.66% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.51.

KLX Energy Services Holdings Inc. [KLXE] – Who Are The Largest Shareholders?

In filings from Tontine Associates LLC, it is revealed that the company now owns 1,419,052 shares, or roughly 8.65% of the outstanding KLXE shares. In other words, the investor’s shares have risen by 367,776 from its previous 13-F filing of 1051276.0. Additionally, BlackRock Fund Advisors increased 502.36% of its stake after which the total value it holdings stand at $7,480,913, while The Vanguard Group, Inc. added 15.01% of its stake to hold $7.03 million in the firm. Over the last quarter, PlusTick Management LLC purchased 16,900 shares of KLX Energy Services Holdings Inc., while Wellington Management Co. LLP bought 342,000 shares. At present, Geode Capital Management LLC is holding 260,251 shares valued at $3.05 million. SSgA Funds Management, Inc. owned 228,562 shares of the company at the time of its most recent 13F filing, worth $2.68 million.

According to FactSet, KLX Energy Services Holdings Inc.’s share price will average $21.25 in the next year, based on opinions of analysts polled by the firm. This is up nearly 104.33 percent from its previous closing price of $10.40. Analysts expect KLX Energy Services Holdings Inc. stock to reach the higher price of $28.00, while the lowest price estimate is $14.50. However, 2 analysts have rated KLXE stock as an Overweight in their predictions for 2023.


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