QXO, Inc. (NASDAQ:QXO) Sees Large Growth in Short Interest

QXO, Inc. (NASDAQ:QXO) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 6,250,000 shares, an increase of 21.8% from the January 31st total of 5,130,000 shares. Based on an average daily volume of 2,080,000 shares, the short-interest ratio is currently 3.0 days. Currently, 1.6% of the shares of the company are short sold.

QXO Price Performance

NASDAQ:QXO opened at $13.33 on Thursday. QXO has a one year low of $10.61 and a one year high of $290.00. The company has a market cap of $5.46 billion, a P/E ratio of -1.46, a P/E/G ratio of 4.09 and a beta of 2.35. The firm’s fifty day moving average price is $13.97 and its two-hundred day moving average price is $14.84.

Hedge Funds Weigh In On QXO

Several institutional investors and hedge funds have recently modified their holdings of the business. Summit Trail Advisors LLC grew its stake in shares of QXO by 1.3% in the fourth quarter. Summit Trail Advisors LLC now owns 115,967 shares of the company’s stock valued at $1,844,000 after acquiring an additional 1,497 shares in the last quarter. Wellington Shields & Co. LLC grew its stake in shares of QXO by 2.0% in the fourth quarter. Wellington Shields & Co. LLC now owns 75,000 shares of the company’s stock valued at $1,192,000 after acquiring an additional 1,500 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of QXO in the third quarter valued at about $41,000. SG Americas Securities LLC grew its stake in shares of QXO by 45.8% in the fourth quarter. SG Americas Securities LLC now owns 9,544 shares of the company’s stock valued at $152,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in shares of QXO by 23.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 15,908 shares of the company’s stock valued at $253,000 after acquiring an additional 3,050 shares in the last quarter. 58.68% of the stock is currently 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.