Short Interest in Spirax Group PLC (OTCMKTS:SPXSY) Drops By 46.8%

Key Points

• Short interest in Spirax Group PLC dropped by 46.8% in September, with total shares shorting decreasing from 4,700 to 2,500.
• The stock price increased by 2.8%, opening at $48.84 on Friday, with a current ratio of 1.77 and a debt-to-equity ratio of 0.62.
• Cfra Research upgraded Spirax Group to a "moderate buy" rating, contributing to a consensus rating of "Buy" among analysts.

Spirax Group PLC (OTCMKTS:SPXSY - Get Free Report) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 2,500 shares, a decrease of 46.8% from the August 31st total of 4,700 shares. Based on an average daily volume of 13,700 shares, the short-interest ratio is presently 0.2 days. Based on an average daily volume of 13,700 shares, the short-interest ratio is presently 0.2 days.

Spirax Group Stock Up 2.8%

Shares of Spirax Group stock opened at $48.84 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.77 and a debt-to-equity ratio of 0.62. Spirax Group has a 1-year low of $34.93 and a 1-year high of $51.38. The firm's 50-day moving average price is $46.36 and its two-hundred day moving average price is $42.50.

Wall Street Analyst Weigh In

Separately, Cfra Research raised shares of Spirax Group to a "moderate buy" rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

About Spirax Group

Spirax-Sarco Engineering plc provides engineered solutions it operates through three segments: Steam Thermal Solutions; Electric Thermal Solutions; and Watson-Marlow Fluid Technology Solutions. The company offers industrial and commercial steam systems, including condensate management, controls, and thermal energy management products and solutions for heating, curing, cooking, drying, cleaning, sterilizing, space heating, humidifying, vacuum packing, and producing hot water; electrical process heating and temperature management solutions, such as industrial heaters and systems, heat tracing, and various component technologies for industrial processes; and peristaltic and niche pumps and associated fluid path technologies, including tubing, and specialty filling systems and products for single-use applications.

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