Spirax Group (OTCMKTS:SPXSY) Shares Gap Up - Here's What Happened

Key Points

• Spirax Group PLC shares experienced a significant increase, opening at $46.00 after a previous close of $40.35, reflecting a jump prior to trading on Tuesday.
• Despite the stock price surge, Hsbc Global Res downgraded Spirax Group from a "strong-buy" to a "hold" rating, indicating a cautious outlook.
• The company maintains a debt-to-equity ratio of 0.58 and a current ratio of 1.85, demonstrating relatively stable financial health.

Shares of Spirax Group PLC (OTCMKTS:SPXSY - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $40.35, but opened at $46.00. Spirax Group shares last traded at $46.00, with a volume of 1,200 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Hsbc Global Res downgraded Spirax Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th.

Spirax Group Stock Up 15.0%

The company has a debt-to-equity ratio of 0.58, a current ratio of 1.85 and a quick ratio of 1.38. The company has a 50 day simple moving average of $41.08 and a 200-day simple moving average of $42.39.

Spirax Group Company Profile

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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