SPX Corporation (SPXC) traded on unusually high volume on Feb. 19, as the stock gained 4.68% to close at $37.39. On the day, SPX Corporation saw 689,770 shares trade hands on 6,534 trades. Considering that the stock averages only a daily volume of 246,375 shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $39.28 and $25.22 over the last 52-weeks, its 50-day SMA is now $28.76, and its 200-day SMA $32.38. SPX Corporation has a P/B ratio of 4.39. It also has a P/E ratio of 13.7.
SPX is a United States-based company that supplies engineered heating, ventilation, and air conditioning, or HVAC, products, as well as detection and measurement technologies and power equipment. The company operates through three segments. The HVAC segment designs, manufactures, installs, and services cooling products, as well as heating and ventilation products. The detection and measurement technologies segment designs, manufactures, and installs underground pipe and cable locators and inspection equipment, bus-fare collection systems, and others. The Engineered Solutions segment engineers, designs, manufactures, installs and services transformers for the power transmission and distribution market. The company generates almost all of its revenue from American domestic market.
Headquartered in Charlotte, NC, SPX Corporation has 5,000 employees and is currently under the leadership of CEO Eugene Joseph Lowe.