SPX Flow Inc (NYSE:FLOW) Short Interest Up 38.2% in August

SPX Flow Inc (NYSE:FLOW) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 916,400 shares, a growth of 38.2% from the July 31st total of 663,000 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 242,800 shares, the short-interest ratio is presently 3.8 days.

Shares of NYSE FLOW traded up $0.72 during mid-day trading on Friday, reaching $43.29. The company’s stock had a trading volume of 376,649 shares, compared to its average volume of 257,744. The stock has a 50-day moving average of $35.98 and a two-hundred day moving average of $36.33. The stock has a market capitalization of $1.68 billion, a P/E ratio of 18.66, a P/E/G ratio of 2.36 and a beta of 2.09. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.77 and a current ratio of 2.12. SPX Flow has a 1-year low of $27.23 and a 1-year high of $54.13.

SPX Flow (NYSE:FLOW) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.09). SPX Flow had a net margin of 4.51% and a return on equity of 9.47%. The business had revenue of $385.40 million during the quarter, compared to analyst estimates of $500.94 million. During the same quarter last year, the company earned $0.54 earnings per share. SPX Flow’s quarterly revenue was down 5.2% on a year-over-year basis. Analysts predict that SPX Flow will post 1.82 EPS for the current fiscal year.

A number of equities research analysts have recently commented on FLOW shares. Zacks Investment Research upgraded shares of SPX Flow from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Buckingham Research reduced their target price on shares of SPX Flow from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. ValuEngine upgraded shares of SPX Flow from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Seaport Global Securities cut shares of SPX Flow from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. SPX Flow currently has an average rating of “Hold” and a consensus price target of $39.80.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. ACR Alpine Capital Research LLC grew its holdings in shares of SPX Flow by 7.8% in the first quarter. ACR Alpine Capital Research LLC now owns 2,260,757 shares of the industrial products company’s stock valued at $72,118,000 after purchasing an additional 164,030 shares during the period. Impax Asset Management Group plc grew its holdings in shares of SPX Flow by 2.9% in the second quarter. Impax Asset Management Group plc now owns 1,853,675 shares of the industrial products company’s stock valued at $77,595,000 after purchasing an additional 52,952 shares during the period. FMR LLC grew its holdings in shares of SPX Flow by 1.4% in the first quarter. FMR LLC now owns 1,004,760 shares of the industrial products company’s stock valued at $32,051,000 after purchasing an additional 13,672 shares during the period. Newport Trust Co purchased a new stake in shares of SPX Flow in the second quarter valued at about $31,839,000. Finally, Nuveen Asset Management LLC purchased a new stake in shares of SPX Flow in the second quarter valued at about $28,111,000. 89.80% of the stock is owned by hedge funds and other institutional investors.

About SPX Flow

SPX FLOW, Inc provides various engineered solutions worldwide. It operates in three segments: Food and Beverage, Power and Energy, and Industrial. The Food and Beverage segment offers mixing, drying, evaporation, and separation systems and components; heat exchangers, and reciprocating and centrifugal pump technologies; and turn-key systems primarily under the Anhydro, APV, Bran+Luebbe, Gerstenberg Schroeder, LIGHTNIN, Seital, and Waukesha Cherry-Burrell brands.

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