SPX Technologies, Inc. (NYSE:SPXC) Short Interest Up 37.0% in February

SPX Technologies, Inc. (NYSE:SPXC) saw a significant growth in short interest in 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. Based on an average trading volume of 302,900 shares, the short-interest ratio is presently 2.9 days. Currently, 1.9% of the company’s shares are short sold.

SPX Technologies Stock Performance

Shares of SPXC traded down $3.06 during midday trading on Tuesday, reaching $132.36. 20,952 shares of the stock were exchanged, compared to its average volume of 253,468. The business’s 50-day moving average price is $144.80 and its 200 day moving average price is $153.95. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. SPX Technologies has a twelve month low of $116.05 and a twelve month high of $183.83. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 35.80, a PEG ratio of 1.33 and a beta of 1.26.

Analyst Ratings Changes

Several research firms have recently commented on SPXC. Sidoti upgraded SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. UBS Group lowered 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 upgraded 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, Wolfe Research initiated 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.75.

Institutional Trading of SPX Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC increased its position in shares of SPX Technologies by 1.0% during the fourth quarter. Private Advisor Group LLC now owns 6,921 shares of the company’s stock worth $1,007,000 after purchasing an additional 68 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of SPX Technologies by 1.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,342 shares of the company’s stock worth $632,000 after purchasing an additional 68 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of SPX Technologies by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,383 shares of the company’s stock worth $201,000 after purchasing an additional 73 shares in the last quarter. Assetmark Inc. increased its position in shares of SPX Technologies by 4.7% during the third quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock worth $278,000 after purchasing an additional 78 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of SPX Technologies by 1.3% during the fourth quarter. Bank of Montreal Can now owns 6,316 shares of the company’s stock worth $919,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

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.