Short Interest in QXO, Inc. (NASDAQ:QXO) Grows By 97.2%

QXO, Inc. (NASDAQ:QXO - Get Free Report) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 18,440,000 shares, a growth of 97.2% from the March 15th total of 9,350,000 shares. Based on an average daily trading volume, of 2,580,000 shares, the days-to-cover ratio is presently 7.1 days. Currently, 4.8% of the shares of the stock are short sold.

QXO Price Performance

QXO stock traded down $0.38 during trading hours on Monday, hitting $12.77. The stock had a trading volume of 10,282,436 shares, compared to its average volume of 2,367,295. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of -1.40, a PEG ratio of 4.09 and a beta of 2.16. QXO has a 1-year low of $10.61 and a 1-year high of $290.00. The stock's fifty day moving average is $13.26 and its two-hundred day moving average is $14.62.

Institutional Trading of QXO

A number of large investors have recently made changes to their positions in QXO. Janney Montgomery Scott LLC purchased a new position in QXO in the 1st quarter valued at about $200,000. Tenon Financial LLC purchased a new position in shares of QXO during the 1st quarter worth $216,000. Wealth Enhancement Advisory Services LLC increased its stake in QXO by 9.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 64,323 shares of the company's stock valued at $871,000 after purchasing an additional 5,381 shares during the last quarter. Simon Quick Advisors LLC lifted its position in QXO by 47.4% during the first quarter. Simon Quick Advisors LLC now owns 23,345 shares of the company's stock worth $316,000 after buying an additional 7,511 shares during the period. Finally, SG Americas Securities LLC boosted its stake in QXO by 478.3% in the 1st quarter. SG Americas Securities LLC now owns 55,193 shares of the company's stock worth $747,000 after buying an additional 45,649 shares during the last quarter. Institutional investors and hedge funds 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.