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

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) was the recipient of a significant increase in short interest in 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. Based on an average daily trading volume, of 302,900 shares, the days-to-cover ratio is currently 2.9 days. Currently, 1.9% of the company's shares are sold short.

SPX Technologies Trading Up 2.3 %

SPXC traded up $3.02 during trading on Friday, hitting $134.44. 197,753 shares of the stock were exchanged, compared to its average volume of 254,529. The firm has a 50 day simple moving average of $145.06 and a 200 day simple moving average of $154.15. The firm has a market cap of $6.24 billion, a price-to-earnings ratio of 36.14, a P/E/G ratio of 1.33 and a beta of 1.26. SPX Technologies has a 1 year low of $116.05 and a 1 year high of $183.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85.

Institutional Trading of SPX Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in SPX Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company's stock valued at $732,153,000 after acquiring an additional 89,770 shares in the last quarter. State Street Corp boosted its position in SPX Technologies by 1.3% during the 3rd quarter. State Street Corp now owns 1,729,989 shares of the company's stock valued at $275,864,000 after acquiring an additional 22,177 shares in the last quarter. Invesco Ltd. boosted its position in SPX Technologies by 3.4% during the 4th quarter. Invesco Ltd. now owns 1,150,781 shares of the company's stock valued at $167,462,000 after acquiring an additional 37,468 shares in the last quarter. Geode Capital Management LLC boosted its position in SPX Technologies by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company's stock valued at $164,888,000 after acquiring an additional 8,916 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its position in SPX Technologies by 25.6% during the 4th quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company's stock valued at $114,640,000 after acquiring an additional 160,535 shares in the last quarter. Institutional investors own 92.82% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Oppenheimer upgraded SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a report on Wednesday, February 26th. UBS Group reduced their price target on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Wolfe Research assumed coverage on SPX Technologies in a report on Monday, November 25th. They issued an "outperform" rating and a $199.00 price target on the stock. Finally, Sidoti upgraded SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, SPX Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $174.75.

Remove Ads

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.