QXO, Inc. (NASDAQ:QXO) Short Interest Update

QXO, Inc. (NASDAQ:QXO - Get Free Report) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 9,350,000 shares, a growth of 25.0% from the February 28th total of 7,480,000 shares. Based on an average trading volume of 2,440,000 shares, the days-to-cover ratio is presently 3.8 days. Currently, 2.4% of the company's stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of QXO. SG Americas Securities LLC grew its position in QXO by 45.8% in the 4th quarter. SG Americas Securities LLC now owns 9,544 shares of the company's stock valued at $152,000 after buying an additional 3,000 shares during the last quarter. Toronto Dominion Bank purchased a new position in QXO during the fourth quarter worth about $159,000. Invesco Ltd. acquired a new stake in QXO in the fourth quarter valued at about $164,000. BNP Paribas Financial Markets purchased a new stake in QXO in the 3rd quarter valued at approximately $166,000. Finally, Entropy Technologies LP acquired a new position in QXO during the 4th quarter worth approximately $169,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

QXO Stock Performance

Shares of QXO stock traded up $0.19 during mid-day trading on Friday, hitting $13.98. 4,320,050 shares of the stock were exchanged, compared to its average volume of 2,202,278. QXO has a 12-month low of $10.61 and a 12-month high of $290.00. The stock's fifty day simple moving average is $13.26 and its two-hundred day simple moving average is $14.75. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of -1.53, a P/E/G ratio of 4.09 and a beta of 2.16.

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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.