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

QXO, Inc. (NASDAQ:QXO) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 6,250,000 shares, a growth 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 days-to-cover ratio is presently 3.0 days. Approximately 1.6% of the shares of the stock are sold short.

Institutional Investors Weigh In On QXO

Several institutional investors and hedge funds have recently bought and sold shares of QXO. Finepoint Capital LP bought a new position in shares of QXO in the third quarter worth about $406,090,000. T. Rowe Price Investment Management Inc. lifted its holdings 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 worth $173,091,000 after acquiring an additional 312,299 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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 worth $159,634,000 after acquiring an additional 1,979,147 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of QXO in the fourth quarter worth about $50,532,000. Finally, Geode Capital Management LLC lifted its holdings in shares of QXO by 64,992.4% in the third quarter. Geode Capital Management LLC now owns 2,853,653 shares of the company’s stock worth $45,019,000 after acquiring an additional 2,849,269 shares during the last quarter. Institutional investors own 58.68% of the company’s stock.

QXO Stock Up 4.0 %

QXO opened at $13.33 on Thursday. QXO has a twelve month low of $10.61 and a twelve month high of $290.00. The company has a 50-day simple moving average of $13.97 and a 200 day simple moving average of $14.84. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of -1.46, a P/E/G ratio of 4.09 and a beta of 2.35.

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.