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

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) was the target of a large growth in short interest during the month of 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 company are short sold. Based on an average daily volume of 286,800 shares, the short-interest ratio is currently 2.2 days.

Wall Street Analysts Forecast Growth

SPXC has been the subject of several research reports. Oppenheimer raised SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a report on Wednesday, February 26th. UBS Group lowered their target price on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Wolfe Research began coverage on shares of SPX Technologies in a research report on Monday, November 25th. They set an "outperform" rating and a $199.00 target price on the stock. Finally, Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, SPX Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $174.75.

Hedge Funds Weigh In On SPX Technologies

A number of large investors have recently bought and sold shares of SPXC. Allworth Financial LP raised its position in SPX Technologies by 123.3% during the 4th quarter. Allworth Financial LP now owns 163 shares of the company's stock worth $25,000 after buying an additional 90 shares during the last quarter. Empowered Funds LLC purchased a new stake in SPX Technologies in the 4th quarter valued at approximately $27,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in SPX Technologies by 2,055.6% in the 4th 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 holdings in SPX Technologies by 377.5% in the 4th 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 purchased a new stake in SPX Technologies in the 4th quarter valued at approximately $57,000. Hedge funds and other institutional investors own 92.82% of the company's stock.

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SPX Technologies Stock Performance

Shares of SPXC stock traded down $0.61 during midday trading on Friday, hitting $137.06. The company had a trading volume of 323,795 shares, compared to its average volume of 314,929. The company's 50 day simple moving average is $146.34 and its 200 day simple moving average is $154.95. SPX Technologies has a 52-week low of $113.18 and a 52-week high of $183.83. The stock has a market cap of $6.36 billion, a price-to-earnings ratio of 36.84, a PEG 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.

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.