SPX Technologies, Inc. (NYSE:SPXC) Short Interest Update

SPX Technologies, Inc. (NYSE:SPXC) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 869,300 shares, a growth of 37.0% from the February 13th total of 634,600 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average daily volume of 302,900 shares, the short-interest ratio is currently 2.9 days.

Analyst Ratings Changes

SPXC has been the topic of several research analyst reports. Wolfe Research assumed coverage on SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective on the stock. UBS Group cut their price target on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Oppenheimer raised shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a research report on Wednesday, February 26th. Finally, Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.75.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SPXC. Allworth Financial LP raised its holdings in shares of SPX Technologies by 123.3% in the 4th quarter. Allworth Financial LP now owns 163 shares of the company’s stock valued at $25,000 after purchasing an additional 90 shares in the last quarter. Empowered Funds LLC acquired a new stake in SPX Technologies in the fourth quarter valued at $27,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in SPX Technologies by 2,055.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company’s stock worth $28,000 after buying an additional 185 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of SPX Technologies by 377.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company’s stock worth $29,000 after acquiring an additional 151 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in shares of SPX Technologies during the 4th quarter worth about $57,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Up 1.0 %

Shares of SPXC traded up $1.34 during midday trading on Monday, hitting $135.60. The company had a trading volume of 220,089 shares, compared to its average volume of 253,511. SPX Technologies has a 1 year low of $116.05 and a 1 year high of $183.83. The firm has a market capitalization of $6.29 billion, a P/E ratio of 36.45, a P/E/G ratio of 1.33 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The company’s 50-day simple moving average is $144.80 and its 200-day simple moving average is $153.95.

About SPX Technologies

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.