Short Interest in QXO, Inc. (NASDAQ:QXO) Increases By 19.7%

QXO, Inc. (NASDAQ:QXO) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 7,480,000 shares, an increase of 19.7% from the February 13th total of 6,250,000 shares. Based on an average daily trading volume, of 2,040,000 shares, the days-to-cover ratio is currently 3.7 days. Approximately 1.9% of the shares of the stock are short sold.

Institutional Investors Weigh In On QXO

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Finepoint Capital LP acquired a new stake in shares of QXO in the third quarter valued at about $406,090,000. Affinity Partners GP LP acquired a new stake in shares of QXO in the fourth quarter valued at about $260,941,000. T. Rowe Price Investment Management Inc. increased its stake in shares of QXO by 3.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,886,193 shares of the company’s stock valued at $173,091,000 after buying an additional 312,299 shares during the period. Vanguard Group Inc. increased its stake in shares of QXO by 24.6% in the fourth quarter. Vanguard Group Inc. now owns 10,039,864 shares of the company’s stock valued at $159,634,000 after buying an additional 1,979,147 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in shares of QXO in the fourth quarter valued at about $50,532,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Stock Up 0.0 %

QXO stock traded up $0.01 during trading hours on Tuesday, hitting $13.01. The stock had a trading volume of 2,482,687 shares, compared to its average volume of 2,024,361. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of -1.43, a P/E/G ratio of 4.09 and a beta of 2.35. QXO has a one year low of $10.61 and a one year high of $290.00. The business’s 50 day simple moving average is $13.54 and its 200-day simple moving average is $14.81.

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.