RXO, Inc. (NYSE:RXO) Short Interest Update

RXO, Inc. (NYSE:RXO) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 4,530,000 shares, an increase of 19.5% from the August 15th total of 3,790,000 shares. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is presently 4.5 days. Currently, 3.9% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RXO. Susquehanna raised their target price on RXO from $14.00 to $20.00 and gave the stock a “negative” rating in a report on Thursday, August 15th. Oppenheimer raised their target price on RXO from $22.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. UBS Group raised their target price on RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Morgan Stanley raised their target price on RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, TD Cowen raised their price target on RXO from $23.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Motco grew its position in RXO by 5,450.0% in the first quarter. Motco now owns 2,442 shares of the company’s stock worth $53,000 after acquiring an additional 2,398 shares in the last quarter. TFO Wealth Partners LLC grew its position in RXO by 106,833.3% in the fourth quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock worth $70,000 after acquiring an additional 3,205 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of RXO by 2,235.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock valued at $80,000 after buying an additional 3,487 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of RXO during the second quarter valued at approximately $112,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of RXO by 62.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,181 shares of the company’s stock valued at $121,000 after buying an additional 1,987 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

RXO Price Performance

Shares of RXO stock traded up $0.15 during trading hours on Friday, hitting $25.70. The stock had a trading volume of 2,120,412 shares, compared to its average volume of 788,961. RXO has a one year low of $16.94 and a one year high of $32.82. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. The stock’s 50-day moving average price is $28.66 and its two-hundred day moving average price is $23.77. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -285.56, a PEG ratio of 12.47 and a beta of 1.35.

RXO (NYSE:RXO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $930.00 million during the quarter, compared to analyst estimates of $934.14 million. RXO had a positive return on equity of 2.22% and a negative net margin of 0.55%. The firm’s revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.08 earnings per share. Equities analysts forecast that RXO will post 0.14 EPS for the current year.

About RXO

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.