Short Interest in QXO, Inc. (NASDAQ:QXO) Rises By 24.4%

QXO, Inc. (NASDAQ:QXO) saw a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 6,210,000 shares, a growth of 24.4% from the November 15th total of 4,990,000 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 2,440,000 shares, the short-interest ratio is currently 2.5 days.

Insiders Place Their Bets

In other QXO news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $15.05, for a total transaction of $105,350,000.00. Following the sale, the insider now directly owns 46,908,701 shares in the company, valued at approximately $705,975,950.05. The trade was a 12.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 51.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QXO

Several hedge funds and other institutional investors have recently bought and sold shares of QXO. Finepoint Capital LP purchased a new position in shares of QXO in the third quarter valued at $406,090,000. Geode Capital Management LLC raised its position in QXO by 64,992.4% during the third quarter. Geode Capital Management LLC now owns 2,853,653 shares of the company’s stock worth $45,019,000 after acquiring an additional 2,849,269 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of QXO in the third quarter valued at approximately $42,593,000. Driehaus Capital Management LLC purchased a new position in shares of QXO during the 2nd quarter worth approximately $160,859,000. Finally, Millennium Management LLC acquired a new position in shares of QXO during the 2nd quarter worth approximately $159,247,000. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Stock Up 0.9 %

QXO traded up $0.15 on Friday, hitting $16.14. 912,957 shares of the company were exchanged, compared to its average volume of 2,841,810. The business has a fifty day moving average price of $15.87. QXO has a fifty-two week low of $10.61 and a fifty-two week high of $290.00. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of -1.77 and a beta of 2.32.

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.