Short Interest in QXO, Inc. (NASDAQ:QXO) Decreases By 28.2%

QXO, Inc. (NASDAQ:QXO - Get Free Report) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totalling 4,460,000 shares, a drop of 28.2% from the November 30th total of 6,210,000 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,060,000 shares, the days-to-cover ratio is presently 2.2 days.

QXO Stock Down 2.0 %

Shares of QXO stock traded down $0.32 on Friday, hitting $15.56. 1,063,858 shares of the stock traded hands, compared to its average volume of 1,183,511. QXO has a twelve month low of $10.61 and a twelve month high of $290.00. The company has a market capitalization of $6.37 billion, a PE ratio of -1.71 and a beta of 2.32. The company's 50-day moving average price is $16.01.

Insider Activity at QXO

In other QXO news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of QXO 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 sale, the insider now owns 46,908,701 shares of the company's stock, valued at $705,975,950.05. The trade was a 12.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 51.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QXO

Large investors have recently modified their holdings of the business. Compagnie Lombard Odier SCmA raised its stake in shares of QXO by 2,000.0% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 2,100 shares of the company's stock valued at $33,000 after acquiring an additional 2,000 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in QXO in the third quarter valued at approximately $41,000. Gainplan LLC acquired a new position in QXO during the third quarter worth $55,000. Renaissance Technologies LLC purchased a new position in shares of QXO during the second quarter worth $432,000. Finally, SG Americas Securities LLC acquired a new stake in shares of QXO in the third quarter valued at $103,000. Institutional investors and hedge funds own 58.68% of the company's stock.

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.