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

Key Points

• Short interest jumped 37.3% in March to 1,304,624 shares (about 2.7% of the float) with a days-to-cover of roughly 2.2, indicating increased bearish positioning.
• Shares dipped 2.7% to $218.79; the company has a market cap of about $10.98 billion, a P/E of 43.67, and a 12-month range of $122.61–$246.68.
• Q1 EPS $1.88 beat estimates and revenue rose 19.4% year-over-year, SPX set FY2026 guidance of $7.60–$8.00 EPS, and analysts maintain a consensus "Moderate Buy" with an average target of $244.67.

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) was the target of a significant growth in short interest in the month of 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 days-to-cover ratio is currently 2.2 days. Currently, 2.7% of the company's stock are sold short.

SPX Technologies Stock Down 2.7%

Shares of SPXC stock traded down $6.03 on Wednesday, reaching $218.79. 831,036 shares of the stock were exchanged, compared to its average volume of 508,925. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 0.22. The business's 50 day moving average price is $215.45 and its 200 day moving average price is $209.26. The company has a market capitalization of $10.98 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 1.73 and a beta of 1.34. SPX Technologies has a twelve month low of $122.61 and a twelve month high of $246.68.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.02. The firm had revenue of $637.30 million during the quarter, compared to the consensus estimate of $625.98 million. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The company's revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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 expect that SPX Technologies will post 5.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SPXC has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on SPX Technologies in a research report on Wednesday, March 4th. They set an "overweight" rating and a $260.00 price objective on the stock. TD Cowen reaffirmed a "hold" rating on shares of SPX Technologies in a research report on Tuesday, January 6th. Truist Financial raised SPX Technologies from a "hold" rating to a "buy" rating and cut their price objective for the stock from $244.00 to $243.00 in a research report on Friday, March 27th. Wells Fargo & Company cut their price objective on SPX Technologies from $270.00 to $225.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 1st. Finally, BMO Capital Markets started coverage on SPX Technologies in a research report on Friday, March 27th. They set an "outperform" rating and a $243.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, SPX Technologies currently has an average rating of "Moderate Buy" and an average target price of $244.67.

Hedge Funds Weigh In On SPX Technologies

A number of institutional investors and hedge funds have recently modified their holdings of SPXC. Royal Bank of Canada boosted its stake in SPX Technologies by 8.1% in the first quarter. Royal Bank of Canada now owns 38,386 shares of the company's stock valued at $4,942,000 after acquiring an additional 2,892 shares in the last quarter. AQR Capital Management LLC boosted its stake in SPX Technologies by 74.5% in the first quarter. AQR Capital Management LLC now owns 20,734 shares of the company's stock valued at $2,670,000 after acquiring an additional 8,854 shares in the last quarter. Millennium Management LLC boosted its stake in SPX Technologies by 214.4% in the first quarter. Millennium Management LLC now owns 83,285 shares of the company's stock valued at $10,725,000 after acquiring an additional 56,799 shares in the last quarter. NewEdge Advisors LLC boosted its stake in SPX Technologies by 21.8% in the first quarter. NewEdge Advisors LLC now owns 625 shares of the company's stock valued at $80,000 after acquiring an additional 112 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in SPX Technologies by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company's stock valued at $24,742,000 after acquiring an additional 3,353 shares in the last quarter. Institutional investors and hedge funds 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.

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