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

Key Points

• Short interest in SPX Technologies fell sharply in June, dropping 42.6% to 1,038,177 shares as of June 30. That leaves about 2.1% of the company’s stock sold short, with a days-to-cover ratio of 0.8 days.
• The stock was trading lower on the day, down 0.8% to $215.77, while still sitting between its 52-week low of $171.31 and high of $251.08. SPX Technologies also has a market cap of about $10.8 billion.
• Fundamentals and analyst sentiment remain solid: the company beat Q1 earnings and revenue expectations, and analysts currently rate the stock a Moderate Buy with a consensus target price of $254.50. Institutional ownership is also high at 92.82%.

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 1,038,177 shares, a drop of 42.6% from the June 15th total of 1,808,706 shares. Currently, 2.1% of the company's stock are short sold. Based on an average daily volume of 1,363,957 shares, the days-to-cover ratio is presently 0.8 days.

SPX Technologies Stock Down 0.8%

NYSE:SPXC traded down $1.82 during mid-day trading on Thursday, reaching $215.77. The stock had a trading volume of 449,360 shares, compared to its average volume of 913,087. The stock has a market cap of $10.80 billion, a P/E ratio of 42.22, a PEG ratio of 1.60 and a beta of 1.27. The business's 50 day moving average is $222.54 and its 200 day moving average is $217.14. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.11 and a quick ratio of 1.39. SPX Technologies has a fifty-two week low of $171.31 and a fifty-two week high of $251.08.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.55 by $0.14. The firm had revenue of $566.80 million during the quarter, compared to analysts' expectations of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The company's revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.38 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, sell-side analysts predict that SPX Technologies will post 7.98 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on SPXC. Wolfe Research reiterated an "outperform" rating and issued a $266.00 price objective on shares of SPX Technologies in a research note on Thursday, July 9th. B. Riley Financial reissued a "buy" rating on shares of SPX Technologies in a research note on Friday, May 1st. BMO Capital Markets began coverage on shares of SPX Technologies in a report on Friday, March 27th. They set an "outperform" rating and a $243.00 price target on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of SPX Technologies in a research note on Wednesday, July 8th. Finally, JPMorgan Chase & Co. lifted their price objective on SPX Technologies from $260.00 to $270.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $254.50.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Ares Financial Consulting LLC acquired a new stake in SPX Technologies in the 4th quarter worth approximately $37,000. Flagship Harbor Advisors LLC acquired a new position in SPX Technologies during the fourth quarter valued at approximately $40,000. Sound Income Strategies LLC bought a new position in shares of SPX Technologies in the fourth quarter valued at approximately $45,000. Hazlett Burt & Watson Inc. raised its position in shares of SPX Technologies by 56.7% in 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, Hantz Financial Services Inc. lifted its stake in shares of SPX Technologies by 21.4% in the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company's stock worth $51,000 after buying an additional 45 shares during 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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