QXO, Inc. (NASDAQ:QXO – Get Free Report) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 528,000 shares, a drop of 39.7% from the August 15th total of 875,900 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 1,830,000 shares, the days-to-cover ratio is currently 0.3 days.
QXO Stock Performance
QXO stock opened at $14.95 on Friday. The company has a market capitalization of $6.12 billion, a P/E ratio of -8.49, a price-to-earnings-growth ratio of 2.31 and a beta of 2.31. QXO has a twelve month low of $10.61 and a twelve month high of $290.00. The company has a 50 day moving average of $28.47.
QXO (NASDAQ:QXO – Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported $3.22 earnings per share for the quarter. The business had revenue of $14.54 million during the quarter. QXO had a negative net margin of 3.75% and a positive return on equity of 0.51%. On average, equities analysts forecast that QXO will post 0.31 EPS for the current fiscal year.
Insider Transactions at QXO
Institutional Trading of QXO
Several institutional investors and hedge funds have recently bought and sold shares of the business. Driehaus Capital Management LLC acquired a new position in shares of QXO during the 2nd quarter worth approximately $160,859,000. Millennium Management LLC acquired a new position in shares of QXO in the second quarter valued at about $159,247,000. Finally, Renaissance Technologies LLC acquired a new stake in QXO in the 2nd quarter worth about $432,000. Institutional investors own 58.68% of the company’s stock.
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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