QXO, Inc. (NASDAQ:QXO) Short Interest Up 97.2% in March

QXO, Inc. (NASDAQ:QXO) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 18,440,000 shares, a growth of 97.2% from the March 15th total of 9,350,000 shares. Currently, 4.8% of the company’s shares are short sold. Based on an average daily volume of 2,580,000 shares, the short-interest ratio is currently 7.1 days.

QXO Price Performance

NASDAQ:QXO remained flat at $14.52 during trading hours on Wednesday. The company’s stock had a trading volume of 847,921 shares, compared to its average volume of 2,238,943. The stock has a market cap of $5.94 billion, a P/E ratio of -1.59, a price-to-earnings-growth ratio of 4.09 and a beta of 2.16. QXO has a one year low of $10.61 and a one year high of $290.00. The stock has a fifty day simple moving average of $13.25 and a 200-day simple moving average of $14.65.

Institutional Investors Weigh In On QXO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in shares of QXO during the third quarter worth approximately $166,000. Stifel Financial Corp purchased a new position in QXO during the 3rd quarter worth $568,000. State Street Corp acquired a new position in shares of QXO during the third quarter worth about $16,245,000. Y Intercept Hong Kong Ltd purchased a new position in QXO during the third quarter worth about $326,000. Finally, Geode Capital Management LLC boosted its holdings in QXO by 64,992.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,853,653 shares of the company’s stock valued at $45,019,000 after purchasing an additional 2,849,269 shares in the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

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.