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

QXO, Inc. (NASDAQ:QXO - Get Free Report) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 7,480,000 shares, a growth of 19.7% from the February 13th total of 6,250,000 shares. Based on an average trading volume of 2,040,000 shares, the short-interest ratio is currently 3.7 days. Approximately 1.9% of the shares of the company are sold short.

QXO Stock Down 5.5 %

QXO stock traded down $0.75 during trading on Friday, hitting $12.69. The company had a trading volume of 8,618,781 shares, compared to its average volume of 2,116,016. The firm has a market cap of $5.19 billion, a PE ratio of -1.39, a price-to-earnings-growth ratio of 4.09 and a beta of 2.35. QXO has a 1-year low of $10.61 and a 1-year high of $290.00. The firm has a 50-day moving average price of $13.34 and a 200-day moving average price of $14.78.

Hedge Funds Weigh In On QXO

Several institutional investors have recently added to or reduced their stakes in the stock. Finepoint Capital LP acquired a new position in QXO in the 3rd quarter valued at about $406,090,000. Affinity Partners GP LP acquired a new position in QXO during the 4th quarter worth approximately $260,941,000. T. Rowe Price Investment Management Inc. increased its position in QXO by 3.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,886,193 shares of the company's stock worth $173,091,000 after purchasing an additional 312,299 shares during the period. Vanguard Group Inc. increased its position in QXO by 24.6% during the 4th quarter. Vanguard Group Inc. now owns 10,039,864 shares of the company's stock worth $159,634,000 after purchasing an additional 1,979,147 shares during the period. Finally, Federated Hermes Inc. acquired a new position in QXO during the 4th quarter worth approximately $50,532,000. Institutional investors and hedge funds own 58.68% of the company's stock.

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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.