KLXE stock up 12% today: Insider trading and hedge fund activity revealed.

KLXE stock has risen 12% today, with $1,307,994 in trading volume. Insiders have traded $KLXE stock 9 times in the past 6 months, with 0 purchases and 9 sales. 22 institutional investors have added shares, while 44 have decreased their positions in their most recent quarter.

KLX Energy Services (KLXE) stock has experienced a significant rise today, increasing by 12% with $1,307,994 in trading volume. This upward movement comes amidst a backdrop of analyst optimism and increased institutional buying. Insiders have also been active in the stock, with 9 trades in the past 6 months, all of which were sales.

Analysts' consensus rating for KLXE remains "Buy," with a consensus price target of $4.50, indicating a downside of -35.44% from the current price of $6.97 [3]. This rating is based on 2 analysts who have issued ratings for KLXE in the last 12 months, with 1 strong buy and 1 hold rating [3].

Institutional ownership of KLXE is notably high, with 42.69% of the stock held by institutions, suggesting strong market trust in the company [1]. Furthermore, 22 institutional investors have added shares, while 44 have decreased their positions in their most recent quarter, reflecting a net increase in institutional ownership.

The company's short interest ratio, or "days to cover," is 7.6, indicating that it would take approximately 7.6 days to cover all short positions with the company's average daily trading volume [1]. This ratio has decreased by 28.82% from the previous month, signaling improving investor sentiment.

Despite the positive indicators, KLXE faces challenges. The company's earnings are expected to decrease in the coming year, from ($2.60) to ($2.80) per share, and its P/E ratio is -7.38, indicating negative earnings [1]. However, the P/B Ratio of 2.44 suggests that the company is reasonably valued with respect to its assets and liabilities [1].

In conclusion, KLX Energy Services' stock has shown resilience and optimism from both analysts and institutional investors, but investors should be aware of the company's earnings challenges and the high downside risk indicated by analysts.

References
[1] https://www.marketbeat.com/stocks/NASDAQ/KLXE/
[2] https://companiesmarketcap.com/klx-energy-services/marketcap/
[3] https://www.marketbeat.com/stocks/NASDAQ/KLXE/forecast/