QXO, Inc. (NASDAQ:QXO) Sees Significant Increase in Short Interest

QXO, Inc. (NASDAQ:QXO) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 5,850,000 shares, an increase of 31.2% from the December 15th total of 4,460,000 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average trading volume of 2,070,000 shares, the short-interest ratio is presently 2.8 days.

QXO Stock Performance

QXO stock traded up $0.31 during mid-day trading on Friday, reaching $14.02. The company’s stock had a trading volume of 2,338,351 shares, compared to its average volume of 1,666,866. The company’s 50 day moving average price is $16.02. QXO has a fifty-two week low of $10.61 and a fifty-two week high of $290.00. The stock has a market cap of $5.74 billion, a PE ratio of -1.54, a PEG ratio of 3.91 and a beta of 2.32.

Insiders Place Their Bets

In related news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $15.05, for a total value of $105,350,000.00. Following the completion of the sale, the insider now owns 46,908,701 shares of the company’s stock, valued at approximately $705,975,950.05. The trade was a 12.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 51.30% of the company’s stock.

Institutional Investors Weigh In On QXO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QXO. Compagnie Lombard Odier SCmA increased its holdings in QXO by 2,000.0% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 2,100 shares of the company’s stock valued at $33,000 after purchasing an additional 2,000 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of QXO during the third quarter worth $41,000. Gainplan LLC purchased a new stake in shares of QXO in the 3rd quarter valued at $55,000. SG Americas Securities LLC purchased a new stake in shares of QXO in the 3rd quarter valued at $103,000. Finally, Claro Advisors LLC purchased a new stake in shares of QXO in the 3rd quarter valued at $111,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

About QXO

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.