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

QXO, Inc. (NASDAQ:QXO) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 7,480,000 shares, a growth of 19.7% from the February 13th total of 6,250,000 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average daily volume of 2,040,000 shares, the short-interest ratio is currently 3.7 days.

QXO Stock Performance

QXO stock traded up $0.01 during mid-day trading on Tuesday, reaching $13.01. The stock had a trading volume of 2,482,687 shares, compared to its average volume of 2,024,361. QXO has a fifty-two week low of $10.61 and a fifty-two week high of $290.00. The stock’s 50-day simple moving average is $13.54 and its 200-day simple moving average is $14.81. The firm has a market capitalization of $5.32 billion, a PE ratio of -1.43, a price-to-earnings-growth ratio of 4.09 and a beta of 2.35.

Institutional Investors Weigh In On QXO

Hedge funds have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. acquired a new stake in QXO in the third quarter valued at approximately $41,000. SG Americas Securities LLC grew its stake in 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 during the period. Toronto Dominion Bank acquired a new stake in QXO in the fourth quarter valued at approximately $159,000. Invesco Ltd. acquired a new stake in QXO in the fourth quarter valued at approximately $164,000. Finally, BNP Paribas Financial Markets bought a new position in shares of QXO in the third quarter valued at approximately $166,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

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.