SPX Technologies, Inc. (NYSE:SPXC) Sees Significant Growth in Short Interest

SPX Technologies, Inc. (NYSE:SPXC) was the recipient of a significant growth in short interest in February. As of February 15th, there was short interest totalling 634,600 shares, a growth of 21.8% from the January 31st total of 521,000 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 286,800 shares, the short-interest ratio is currently 2.2 days.

SPX Technologies Trading Down 0.4 %

NYSE SPXC opened at $137.06 on Friday. The business has a 50 day simple moving average of $146.34 and a 200 day simple moving average of $154.95. SPX Technologies has a one year low of $113.18 and a one year high of $183.83. The stock has a market capitalization of $6.36 billion, a P/E ratio of 36.84, 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 current ratio of 1.85 and a quick ratio of 1.19.

Analysts Set New Price Targets

SPXC has been the subject of several analyst reports. Sidoti raised shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 26th. UBS Group dropped their price target on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Wolfe Research initiated coverage on shares of SPX Technologies in a research note on Monday, November 25th. They set an “outperform” rating and a $199.00 price target for the company. Finally, Oppenheimer raised shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SPX Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.75.

Institutional Investors Weigh In On SPX Technologies

Several large investors have recently added to or reduced their stakes in SPXC. Allworth Financial LP grew its stake in SPX Technologies by 123.3% during the fourth quarter. Allworth Financial LP now owns 163 shares of the company’s stock worth $25,000 after purchasing an additional 90 shares during the period. Empowered Funds LLC acquired a new stake in SPX Technologies in the fourth quarter valued at approximately $27,000. Skandinaviska Enskilda Banken AB publ grew its stake in SPX Technologies by 2,055.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company’s stock valued at $28,000 after acquiring an additional 185 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in SPX Technologies by 377.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company’s stock valued at $29,000 after acquiring an additional 151 shares during the period. Finally, Spire Wealth Management acquired a new stake in SPX Technologies in the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Company Profile

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.