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

SPX Technologies, Inc. (NYSE:SPXC) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 634,600 shares, an increase of 21.8% from the January 31st total of 521,000 shares. Based on an average daily volume of 286,800 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.4% of the company’s stock are short sold.

Analyst Ratings Changes

A number of equities analysts have weighed in on SPXC shares. Wolfe Research started coverage on SPX Technologies in a research report on Monday, November 25th. They set an “outperform” rating and a $199.00 price target for the company. UBS Group reduced their price target on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Oppenheimer raised SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research report on Wednesday, February 26th. Finally, Sidoti raised SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $174.75.

Institutional Inflows and Outflows

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

SPX Technologies Stock Up 3.0 %

SPXC stock opened at $141.30 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 37.98, a PEG ratio of 1.33 and a beta of 1.26. The business’s fifty day moving average price is $146.72 and its two-hundred day moving average price is $155.19. SPX Technologies has a fifty-two week low of $113.18 and a fifty-two week high of $183.83.

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.