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

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

Institutional Trading of QXO

A number of large investors have recently modified their holdings of the business. Brown Brothers Harriman & Co. bought a new position in shares of QXO in the third quarter worth approximately $41,000. SG Americas Securities LLC increased its holdings in shares of QXO by 45.8% in 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 during the last quarter. Toronto Dominion Bank purchased a new stake in shares of QXO during the 4th quarter valued at $159,000. Invesco Ltd. purchased a new stake in shares of QXO during the 4th quarter valued at $164,000. Finally, BNP Paribas Financial Markets bought a new stake in QXO during the third quarter worth about $166,000. Institutional investors own 58.68% of the company’s stock.

QXO Stock Performance

Shares of QXO stock opened at $13.06 on Thursday. The company has a market capitalization of $5.35 billion, a PE ratio of -1.43, 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. The business’s fifty day moving average is $13.43 and its 200 day moving average is $14.79.

About QXO

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.