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

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

QXO Stock Up 4.7 %

NASDAQ:QXO traded up $0.64 on Tuesday, hitting $14.18. The stock had a trading volume of 3,128,935 shares, compared to its average volume of 2,183,206. The business’s 50-day simple moving average is $13.24 and its two-hundred day simple moving average is $14.76. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of -1.55, a price-to-earnings-growth ratio of 4.09 and a beta of 2.35. QXO has a 52-week low of $10.61 and a 52-week high of $290.00.

Institutional Trading of QXO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Trail Advisors LLC raised its stake in QXO by 1.3% during the fourth quarter. Summit Trail Advisors LLC now owns 115,967 shares of the company’s stock valued at $1,844,000 after purchasing an additional 1,497 shares in the last quarter. Wellington Shields & Co. LLC boosted its position in QXO by 2.0% in the 4th quarter. Wellington Shields & Co. LLC now owns 75,000 shares of the company’s stock valued at $1,192,000 after buying an additional 1,500 shares during the period. SG Americas Securities LLC grew its position in shares of QXO by 45.8% during the 4th quarter. SG Americas Securities LLC now owns 9,544 shares of the company’s stock worth $152,000 after buying an additional 3,000 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in shares of 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 purchasing an additional 3,050 shares during the period. Finally, Simon Quick Advisors LLC boosted its position in QXO by 24.0% during the 4th quarter. Simon Quick Advisors LLC now owns 15,834 shares of the company’s stock valued at $252,000 after acquiring an additional 3,064 shares in the last quarter. Institutional investors 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.