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

SPX Technologies, Inc. (NYSE:SPXC) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 1,038,177 shares, a decline of 42.6% from the June 15th total of 1,808,706 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average trading volume of 1,363,957 shares, the short-interest ratio is currently 0.8 days.

SPX Technologies Stock Performance

SPX Technologies stock traded down $1.82 during mid-day trading on Thursday, reaching $215.77. The company had a trading volume of 449,360 shares, compared to its average volume of 913,087. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. SPX Technologies has a 52 week low of $171.31 and a 52 week high of $251.08. The company has a 50 day moving average of $222.54 and a 200-day moving average of $217.14. The firm has a market cap of $10.80 billion, a price-to-earnings ratio of 42.22, a PEG ratio of 1.60 and a beta of 1.27.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.14. The company had revenue of $566.80 million for the quarter, compared to the consensus estimate of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, sell-side analysts expect that SPX Technologies will post 7.98 EPS for the current fiscal year.

Hedge Funds Weigh In On SPX Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ares Financial Consulting LLC acquired a new position in SPX Technologies in the 4th quarter valued at approximately $37,000. Flagship Harbor Advisors LLC acquired a new stake in shares of SPX Technologies during the 4th quarter worth approximately $40,000. Sound Income Strategies LLC acquired a new stake in shares of SPX Technologies during the 4th quarter worth approximately $45,000. Hazlett Burt & Watson Inc. increased its position in shares of SPX Technologies by 56.7% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock valued at $47,000 after purchasing an additional 85 shares during the period. Finally, Summit Securities Group LLC bought a new stake in shares of SPX Technologies during the first quarter valued at approximately $51,000. 92.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SPXC has been the topic of several research analyst reports. Wolfe Research reaffirmed an “outperform” rating and issued a $266.00 price target on shares of SPX Technologies in a research report on Thursday, July 9th. Truist Financial boosted their price objective on SPX Technologies from $261.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. increased their target price on SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wells Fargo & Company raised their target price on SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Wall Street Zen downgraded SPX Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $254.50.

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.