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

SPX Technologies, Inc. (NYSE:SPXC) saw a significant growth in short interest in March. As of March 31st, there was short interest totaling 1,304,624 shares, a growth of 37.3% from the March 15th total of 949,896 shares. Based on an average trading volume of 591,012 shares, the short-interest ratio is currently 2.2 days. Currently, 2.7% of the shares of the company are short sold.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in SPX Technologies by 11.2% during the third quarter. Principal Financial Group Inc. now owns 550,863 shares of the company’s stock worth $102,890,000 after purchasing an additional 55,482 shares in the last quarter. Moody Aldrich Partners LLC raised its holdings in SPX Technologies by 18.8% during the third quarter. Moody Aldrich Partners LLC now owns 33,475 shares of the company’s stock worth $6,252,000 after purchasing an additional 5,290 shares in the last quarter. Emerald Advisers LLC raised its holdings in SPX Technologies by 13.6% during the third quarter. Emerald Advisers LLC now owns 153,507 shares of the company’s stock worth $28,672,000 after purchasing an additional 18,403 shares in the last quarter. Voya Investment Management LLC raised its holdings in SPX Technologies by 36.6% during the third quarter. Voya Investment Management LLC now owns 186,359 shares of the company’s stock worth $34,808,000 after purchasing an additional 49,884 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in SPX Technologies during the third quarter worth about $4,626,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPXC has been the subject of several research analyst reports. Bank of America upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $240.00 to $280.00 in a research note on Friday, February 13th. Truist Financial upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating and decreased their price objective for the company from $244.00 to $243.00 in a research note on Friday, March 27th. TD Cowen restated a “hold” rating on shares of SPX Technologies in a research note on Tuesday, January 6th. Weiss Ratings restated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Finally, Wells Fargo & Company reduced their target price on shares of SPX Technologies from $270.00 to $225.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $244.67.

SPX Technologies Stock Performance

Shares of NYSE:SPXC traded down $6.03 on Wednesday, reaching $218.79. The company’s stock had a trading volume of 831,036 shares, compared to its average volume of 508,925. The stock’s 50-day moving average is $215.45 and its two-hundred day moving average is $209.26. SPX Technologies has a 52-week low of $122.61 and a 52-week high of $246.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.48 and a quick ratio of 1.82. The stock has a market capitalization of $10.98 billion, a P/E ratio of 43.67, a PEG ratio of 1.73 and a beta of 1.34.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Tuesday, February 24th. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. The business had revenue of $637.30 million during the quarter, compared to analysts’ expectations of $625.98 million. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The business’s revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.51 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. As a group, sell-side analysts forecast that SPX Technologies will post 5.57 EPS for the current year.

About SPX Technologies

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.