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

QXO, Inc. (NASDAQ:QXO) experienced a notable increase in short interest throughout December. By the end of the month, on December 31st, the total short interest reached 5,850,000 shares, which marks a significant rise of 31.2% compared to the 4,460,000 shares reported on December 15th. With an average daily trading volume of 2,070,000 shares, the current days-to-cover ratio stands at 2.8 days. This indicates that approximately 1.5% of the company's total shares are currently short sold.

QXO Experiences a 2.2% Increase in Stock Price

On Friday, shares of QXO traded up by 2.2%, increasing by $0.31 and reaching a price of $14.02. During the trading session, 2,338,351 shares exchanged hands, surpassing the average daily volume of 1,666,866. The company's stock has a fifty-day moving average of $16.02 and a market capitalization of $5.74 billion. Other financial metrics include a P/E ratio of -1.54, a PEG ratio of 3.91, and a beta of 2.32. Notably, QXO has experienced a 1-year low of $10.61 and a 1-year high of $290.00.

Insider Transactions and Ownership

In recent developments involving QXO, major shareholder Mfn Partners, Lp sold 7,000,000 shares of QXO stock on November 6th. The shares were sold at an average price of $15.05, resulting in a total transaction value of $105,350,000. Following this sale, the insider directly owns 46,908,701 shares of QXO, which is valued at approximately $705,975,950.05. This sale represents a decrease of 12.98% in their holdings. Details of this trade were disclosed in a filing with the Securities and Exchange Commission, which can be accessed through their official website. Currently, company insiders hold 51.30% of the total shares of QXO.

Institutional Investors' Activity in QXO

Several institutional investors have recently adjusted their positions in QXO. For instance, Compagnie Lombard Odier SCmA significantly increased its stake in QXO by 2,000.0% during the third quarter, owning 2,100 shares valued at $33,000 after acquiring an additional 2,000 shares. Brown Brothers Harriman & Co. bought a new position in QXO stock worth around $41,000 during the same quarter. Other firms, like Gainplan LLC and SG Americas Securities LLC, also added new positions in QXO valued at approximately $55,000 and $103,000, respectively. Overall, institutional investors and hedge funds own 58.68% of QXO's stock.

About QXO, Inc.

QXO, Inc. operates as a business application, technology, and consulting company in North America. It provides a variety of solutions including accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.

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