QXO, Inc. (NASDAQ:QXO) Short Interest Up 31.2% in December

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

QXO Trading Up 2.2 %

Shares of NASDAQ QXO traded up $0.31 during trading hours on Friday, hitting $14.02. 2,338,351 shares of the stock were exchanged, compared to its average volume of 1,666,866. The firm has a fifty day moving average of $16.02. The firm has a market cap of $5.74 billion, a P/E ratio of -1.54, a PEG ratio of 3.91 and a beta of 2.32. QXO has a 1-year low of $10.61 and a 1-year high of $290.00.

Insiders Place Their Bets

In other QXO news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of QXO stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $15.05, for a total value of $105,350,000.00. Following the completion of the transaction, the insider now directly owns 46,908,701 shares of the company’s stock, valued at $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 is available at the SEC website. Company insiders own 51.30% of the company’s stock.

Hedge Funds Weigh In On QXO

A number of institutional investors 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 worth $33,000 after purchasing an additional 2,000 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of QXO during the third quarter worth about $41,000. Gainplan LLC acquired a new position in shares of QXO in the third quarter valued at approximately $55,000. SG Americas Securities LLC bought a new position in QXO in the 3rd quarter valued at approximately $103,000. Finally, Claro Advisors LLC acquired a new stake in QXO during the 3rd quarter worth approximately $111,000. 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.