Short Interest in SPX Technologies, Inc. (NYSE:SPXC) Rises By 37.0%

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) saw a large 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 days-to-cover ratio is presently 2.9 days. Currently, 1.9% of the shares of the company are sold short.

SPX Technologies Price Performance

Shares of NYSE:SPXC traded down $2.08 on Tuesday, hitting $133.34. The company's stock had a trading volume of 79,713 shares, compared to its average volume of 304,777. The company has a 50-day simple moving average of $144.80 and a 200 day simple moving average of $153.95. SPX Technologies has a 1 year low of $116.05 and a 1 year high of $183.83. The company has a market capitalization of $6.18 billion, a PE ratio of 35.84, 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.

Analysts Set New Price Targets

Several research firms have recently weighed in on SPXC. UBS Group cut their price target on 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 began coverage on SPX Technologies in a research note on Monday, November 25th. They set an "outperform" rating and a $199.00 price target for the company. Sidoti upgraded SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. Finally, Oppenheimer upgraded SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $174.75.

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Hedge Funds Weigh In On SPX Technologies

A number of large investors have recently modified their holdings of SPXC. Allworth Financial LP raised its holdings in shares of SPX Technologies by 123.3% during the 4th 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 purchased a new position in shares of SPX Technologies during the 4th quarter valued at about $27,000. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of SPX Technologies by 2,055.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock valued at $28,000 after buying an additional 185 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of SPX Technologies by 377.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock valued at $29,000 after buying an additional 151 shares in the last quarter. Finally, Spire Wealth Management bought a new position in SPX Technologies during the 4th quarter worth approximately $57,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

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.