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

QXO, Inc. (NASDAQ:QXO) was the recipient of a large growth in short interest in 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. Approximately 1.5% of the company’s shares are short sold. Based on an average daily trading volume, of 2,070,000 shares, the days-to-cover ratio is presently 2.8 days.

QXO Stock Up 2.2 %

QXO traded up $0.31 during trading on Friday, reaching $14.02. 2,338,351 shares of the stock traded hands, compared to its average volume of 1,666,866. The company has a 50-day simple moving average of $16.02. QXO has a 12 month low of $10.61 and a 12 month high of $290.00. The stock has a market capitalization of $5.74 billion, a PE ratio of -1.54, a PEG ratio of 3.91 and a beta of 2.32.

Insiders Place Their Bets

In other news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $15.05, for a total transaction of $105,350,000.00. Following the completion of the sale, the insider now directly owns 46,908,701 shares in the company, valued at $705,975,950.05. This represents a 12.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 51.30% of the company’s stock.

Institutional Investors Weigh In On QXO

Institutional investors and hedge funds have recently made changes to their positions in the business. Compagnie Lombard Odier SCmA boosted its stake in QXO by 2,000.0% during the third quarter. Compagnie Lombard Odier SCmA now owns 2,100 shares of the company’s stock worth $33,000 after acquiring an additional 2,000 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of QXO during the third quarter valued at about $41,000. Gainplan LLC acquired a new position in shares of QXO during the third quarter valued at about $55,000. SG Americas Securities LLC acquired a new stake in shares of QXO in the 3rd quarter valued at about $103,000. Finally, Claro Advisors LLC acquired a new stake in shares of QXO in the 3rd quarter valued at about $111,000. 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.