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

QXO, Inc. (NASDAQ:QXO) experienced a notable increase in short interest during December. By December 31st, the total short interest rose to 5,850,000 shares, marking a 31.2% increase from the previous total of 4,460,000 shares reported on December 15th. Given the average daily trading volume of 2,070,000 shares, this translates to a days-to-cover ratio of 2.8 days. Currently, short sales constitute about 1.5% of the company’s total stock.

QXO Trading Performance

On a recent trading day, shares of NASDAQ QXO saw an increase of 2.2%, rising by $0.31 to reach $14.02. The trading volume for the day was 2,338,351 shares, which is above the typical volume of 1,666,866 shares. As for the company's market metrics, it has a fifty-day moving average of $16.02, a market capitalization of $5.74 billion, and a price-to-earnings (P/E) ratio of -1.54. The stock has fluctuated significantly over the past year, hitting a low of $10.61 and a high of $290.00.

Insider Transactions

In related news, Mfn Partners, Lp, a major shareholder, sold 7,000,000 shares of QXO stock on November 6th at an average price of $15.05, amounting to a total value of $105,350,000. After this transaction, Mfn Partners retained ownership of 46,908,701 shares, which is now valued at approximately $705,975,950. Following this sale, their ownership stake decreased by 12.98%. These details were disclosed in a filing with the Securities and Exchange Commission (SEC) and are accessible on their website. Company insiders currently hold around 51.30% of QXO's shares.

Hedge Fund Activity

Various institutional investors have recently adjusted their stakes in QXO. Compagnie Lombard Odier SCmA, for instance, increased its holdings by an impressive 2,000.0% in the third quarter. They acquired an additional 2,000 shares, bringing their total to 2,100 shares worth about $33,000. Other firms such as Brown Brothers Harriman & Co. and Gainplan LLC have also added new positions in QXO, with investments valued at approximately $41,000 and $55,000, respectively. Recently, Claro Advisors LLC also entered the scene, acquiring shares worth approximately $111,000. In total, institutional and hedge fund ownership constitutes 58.68% of QXO's outstanding shares.

About QXO, Inc.

QXO, Inc. operates as a technology and consulting firm, offering various business application solutions across North America. The company specializes in areas such as accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence strategies.

QXO, Stock, Investors