QXO, Inc. Short Interest Increases Significantly in December

QXO, Inc. (NASDAQ:QXO) experienced a notable increase in short interest during December. As of December 31, the total number of shares sold short reached 5,850,000, marking a 31.2% rise from the previous total of 4,460,000 shares reported on December 15. With an average daily trading volume of 2,070,000 shares, the current days-to-cover ratio stands at 2.8 days, indicating that it would take this amount of time to cover all short positions. Approximately 1.5% of the company's outstanding shares are currently short sold.

QXO Stock Performance

On the trading day before the report, shares of QXO rose by 2.2%, with a gain of $0.31, reaching a price of $14.02. A total of 2,338,351 shares were exchanged that day, significantly above its average volume of 1,666,866 shares. The company's fifty-day moving average price is noted at $16.02, and it holds a market capitalization of $5.74 billion. The P/E ratio stands at -1.54, while the PEG ratio is 3.91, and the stock has a beta of 2.32. Over the past year, the stock has fluctuated, having a low of $10.61 and a high of $290.00.

Insider Activity

Recent insider trades reveal that major shareholder Mfn Partners, Lp sold 7,000,000 shares of QXO stock on November 6, at an average price of $15.05. This transaction totaled approximately $105.35 million. Post-sale, the insider retains ownership of 46,908,701 shares, valued at $705.98 million. This sale represented a decrease of about 12.98% in their overall holding, which has been disclosed in a filing with the Securities and Exchange Commission (SEC). Insiders currently hold 51.30% of QXO's stock.

Institutional Investor Activity

Institutional investors have been actively adjusting their stakes in QXO recently. Compagnie Lombard Odier SCmA has significantly increased its holdings by 2,000%, now owning 2,100 shares worth $33,000 after purchasing an additional 2,000 shares. Similarly, Brown Brothers Harriman & Co. acquired a new position valued at around $41,000, while Gainplan LLC invested about $55,000. SG Americas Securities LLC and Claro Advisors LLC also entered the company, acquiring stakes valued at approximately $103,000 and $111,000, respectively. Overall, 58.68% of QXO’s stock is held by institutional investors and hedge funds.

About QXO, Inc.

QXO, Inc. operates in North America as a business application, technology, and consulting company. Its offerings encompass a wide range of solutions, including accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.

Investment Considerations

Potential investors should consider various factors before making investment decisions regarding QXO. Although some analysts maintain a "Hold" rating for the stock, others suggest that there may be better buying opportunities elsewhere. Therefore, it could be wise to weigh current market insights and alternative investment options before proceeding.

QXO, Short, Stock