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

by · The Cerbat Gem

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

Institutional Trading of SPX Technologies

A number of hedge funds have recently modified their holdings of the stock. Park Square Financial Group LLC purchased a new stake in shares of SPX Technologies in the fourth quarter worth about $318,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in SPX Technologies in the 4th quarter worth about $5,209,000. Armis Advisers LLC acquired a new position in SPX Technologies in the 4th quarter worth about $319,000. Palisades Investment Partners LLC raised its holdings in SPX Technologies by 9.9% in the 4th quarter. Palisades Investment Partners LLC now owns 112,097 shares of the company’s stock worth $16,312,000 after purchasing an additional 10,109 shares during the period. Finally, Twinbeech Capital LP acquired a new position in SPX Technologies in the 4th quarter worth about $1,931,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Analyst Ratings Changes

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

Read Our Latest Stock Analysis on SPXC

SPX Technologies Stock Performance

Shares of SPXC traded up $3.02 during mid-day trading on Friday, reaching $134.44. The company had a trading volume of 197,753 shares, compared to its average volume of 254,529. SPX Technologies has a 52-week low of $116.05 and a 52-week high of $183.83. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $6.24 billion, a P/E ratio of 36.14, a PEG ratio of 1.33 and a beta of 1.26. The stock has a 50 day moving average of $145.06 and a two-hundred day moving average of $154.15.

SPX Technologies Company Profile

(Get Free Report)

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.

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