QXO, Inc. (NASDAQ:QXO – Get Free Report) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 7,480,000 shares, an increase of 19.7% from the February 13th total of 6,250,000 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily volume of 2,040,000 shares, the short-interest ratio is currently 3.7 days.
QXO Price Performance
Shares of NASDAQ:QXO opened at $13.06 on Thursday. The stock’s 50-day moving average is $13.43 and its 200 day moving average is $14.79. The company has a market cap of $5.35 billion, a PE ratio of -1.43, a P/E/G 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.
Institutional Investors Weigh In On QXO
Large investors have recently made changes to their positions in the business. Finepoint Capital LP bought a new position in shares of QXO during the third quarter valued at approximately $406,090,000. Affinity Partners GP LP bought a new position in QXO in the 4th quarter worth $260,941,000. Federated Hermes Inc. purchased a new stake in shares of QXO in the 4th quarter worth about $50,532,000. Geode Capital Management LLC lifted its position in shares of QXO by 64,992.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,853,653 shares of the company’s stock worth $45,019,000 after purchasing an additional 2,849,269 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of QXO during the 3rd quarter valued at about $32,559,000. 58.68% of the stock is currently owned by institutional investors.
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.
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