Short Interest in QXO, Inc. (NASDAQ:QXO) Increases By 25.0%

QXO, Inc. (NASDAQ:QXO) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 9,350,000 shares, an increase of 25.0% from the February 28th total of 7,480,000 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,440,000 shares, the short-interest ratio is currently 3.8 days.

QXO Price Performance

QXO traded up $0.64 during trading on Tuesday, hitting $14.18. 3,128,935 shares of the stock traded hands, compared to its average volume of 2,183,206. The company has a market cap of $5.80 billion, a price-to-earnings ratio of -1.55, a PEG ratio of 4.09 and a beta of 2.35. The business has a 50 day moving average price of $13.24 and a 200 day moving average price of $14.76. QXO has a twelve month low of $10.61 and a twelve month high of $290.00.

Hedge Funds Weigh In On QXO

A number of institutional investors and hedge funds have recently modified their holdings of the business. Summit Trail Advisors LLC lifted 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 buying an additional 1,497 shares in the last quarter. Wellington Shields & Co. LLC increased its holdings 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 worth $1,192,000 after purchasing an additional 1,500 shares during the period. SG Americas Securities LLC increased its position 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 worth $152,000 after purchasing an additional 3,000 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in QXO by 23.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 15,908 shares of the company’s stock worth $253,000 after buying an additional 3,050 shares during the last quarter. Finally, Simon Quick Advisors LLC boosted its stake in shares of QXO by 24.0% during the fourth quarter. Simon Quick Advisors LLC now owns 15,834 shares of the company’s stock valued at $252,000 after purchasing an additional 3,064 shares during the period. 58.68% of the stock is currently owned by institutional investors.

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.