QXO, Inc. (NASDAQ:QXO) Short Interest Update

QXO, Inc. (NASDAQ:QXO) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,590,000 shares, a growth of 201.1% from the August 31st total of 528,000 shares. Based on an average trading volume of 2,460,000 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.4% of the company’s stock are sold short.

Insider Buying and Selling at QXO

In other QXO news, major shareholder Mfn Partners, Lp sold 795,894 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $15.05, for a total transaction of $11,978,204.70. Following the transaction, the insider now directly owns 53,908,701 shares in the company, valued at approximately $811,325,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 90.60% of the stock is currently owned by insiders.

Institutional Trading of QXO

A number of institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in QXO during the second quarter worth $432,000. Millennium Management LLC bought a new position in QXO during the second quarter worth $159,247,000. Finally, Driehaus Capital Management LLC bought a new stake in QXO in the 2nd quarter valued at $160,859,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

QXO Stock Down 2.6 %

Shares of QXO stock traded down $0.41 during trading hours on Wednesday, reaching $15.31. The stock had a trading volume of 761,598 shares, compared to its average volume of 881,469. QXO has a twelve month low of $10.61 and a twelve month high of $290.00. The company’s 50-day simple moving average is $24.59. The company has a market cap of $6.27 billion, a price-to-earnings ratio of -8.93, a PEG ratio of 2.43 and a beta of 2.31.

QXO (NASDAQ:QXO) last announced its earnings results on Wednesday, August 14th. The company reported $3.22 EPS for the quarter. The company 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%. Analysts predict that QXO will post 0.32 EPS for the current year.

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.