QXO, Inc. (NASDAQ:QXO) Short Interest Update

QXO, Inc. (NASDAQ:QXO) saw a significant drop in short interest in December. As of December 15th, there was short interest totalling 4,460,000 shares, a drop of 28.2% from the November 30th total of 6,210,000 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average trading volume of 2,060,000 shares, the short-interest ratio is currently 2.2 days.

QXO Trading Down 2.0 %

Shares of NASDAQ QXO traded down $0.32 during trading on Friday, reaching $15.56. The stock had a trading volume of 1,063,858 shares, compared to its average volume of 1,183,511. The firm has a market capitalization of $6.37 billion, a PE ratio of -1.71 and a beta of 2.32. QXO has a one year low of $10.61 and a one year high of $290.00. The stock has a 50 day simple moving average of $16.01.

Insider Activity

In other QXO news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $15.05, for a total transaction of $105,350,000.00. Following the completion of the transaction, the insider now directly owns 46,908,701 shares of the company’s stock, valued at $705,975,950.05. This trade represents a 12.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 51.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Finepoint Capital LP bought a new position in QXO in the 3rd quarter worth about $406,090,000. Geode Capital Management LLC grew its holdings in QXO by 64,992.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,853,653 shares of the company’s stock worth $45,019,000 after buying an additional 2,849,269 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in QXO in the 3rd quarter worth approximately $42,593,000. Driehaus Capital Management LLC acquired a new stake in QXO in the 2nd quarter valued at approximately $160,859,000. Finally, Millennium Management LLC bought a new stake in QXO during the 2nd quarter valued at $159,247,000. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Company Profile

QXO, Inc operates as a business application, technology, and consulting company in North America. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.