Short Interest in SPX Technologies, Inc. (NYSE:SPXC) Grows By 23.9%

SPX Technologies, Inc. (NYSE:SPXC) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 1,315,681 shares, a growth of 23.9% from the November 30th total of 1,061,516 shares. Based on an average daily volume of 390,674 shares, the short-interest ratio is currently 3.4 days. Currently, 2.7% of the shares of the company are short sold. Currently, 2.7% of the shares of the company are short sold. Based on an average daily volume of 390,674 shares, the short-interest ratio is currently 3.4 days.

Analyst Ratings Changes

SPXC has been the subject of several research reports. B. Riley reiterated a “buy” rating and issued a $244.00 price target (up previously from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Truist Financial increased their target price on shares of SPX Technologies from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. Weiss Ratings restated a “buy (b)” rating on shares of SPX Technologies in a research report on Monday. Finally, Wells Fargo & Company started coverage on SPX Technologies in a research report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $214.14.

SPX Technologies Trading Down 1.6%

Shares of SPX Technologies stock opened at $200.18 on Friday. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 42.87, a price-to-earnings-growth ratio of 1.88 and a beta of 1.33. SPX Technologies has a 52-week low of $115.00 and a 52-week high of $233.71. The company’s 50-day simple moving average is $210.35 and its 200-day simple moving average is $191.97. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.23.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.24. SPX Technologies had a return on equity of 18.68% and a net margin of 10.33%.The company had revenue of $592.80 million for the quarter, compared to analyst estimates of $574.32 million. During the same quarter in the previous year, the company earned $1.39 EPS. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. As a group, equities research analysts anticipate that SPX Technologies will post 5.57 earnings per share for the current year.

Insider Activity

In related news, insider J Randall Data sold 12,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $215.37, for a total value of $2,584,440.00. Following the completion of the sale, the insider directly owned 38,020 shares of the company’s stock, valued at $8,188,367.40. This represents a 23.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John William Swann III sold 38,755 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $206.07, for a total value of $7,986,242.85. Following the transaction, the insider owned 64,266 shares in the company, valued at $13,243,294.62. This represents a 37.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SPXC. Hazlett Burt & Watson Inc. purchased a new stake in shares of SPX Technologies during the 3rd quarter worth $28,000. Cullen Frost Bankers Inc. boosted its holdings in SPX Technologies by 52.9% during the third quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock worth $29,000 after buying an additional 54 shares in the last quarter. Optiver Holding B.V. boosted its holdings in SPX Technologies by 110.5% during the third quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock worth $30,000 after buying an additional 84 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in SPX Technologies during the second quarter worth about $31,000. Finally, Financial Consulate Inc. purchased a new position in SPX Technologies in the third quarter valued at about $34,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

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.