QXO, Inc. (NASDAQ:QXO) Sees Short Interest Surge in December

QXO, Inc. (NASDAQ:QXO) experienced a notable increase in short interest throughout December. By December 31st, the total short interest rose to 5,850,000 shares, marking a significant increase of 31.2% from the short interest of 4,460,000 shares recorded on December 15th. Based on a daily average trading volume of 2,070,000 shares, the days-to-cover ratio currently stands at 2.8 days, indicating that roughly 1.5% of the company's stock is currently short sold.

QXO Trading Performance

On the trading front, shares of QXO increased by 2.2% on Friday, reaching a price of $14.02 per share. During the trading session, a total of 2,338,351 shares were exchanged, exceeding the average trading volume of 1,666,866. The company holds a market capitalization of $5.74 billion, a P/E ratio of -1.54, a PEG ratio of 3.91, and a beta of 2.32. The stock has experienced a 1-year low of $10.61 and a peak of $290.00.

Insider Transactions

In recent developments, significant shareholder Mfn Partners, Lp executed the sale of 7,000,000 shares of QXO stock on November 6th. The shares were sold at an average price of $15.05, culminating in a transaction value of $105,350,000. Following this sale, Mfn Partners, Lp retained ownership of 46,908,701 shares of QXO, valued at approximately $705,975,950.05, reflecting a 12.98% reduction in their stake. This sale has been officially disclosed in a filing with the Securities and Exchange Commission (SEC).

Institutional Investor Activity

Several institutional investors have either increased or decreased their positions in QXO recently. Notably, Compagnie Lombard Odier SCmA raised its stake in QXO by 2,000.0% during the third quarter, amassing 2,100 shares worth approximately $33,000. Other firms such as Brown Brothers Harriman & Co. and Gainplan LLC also established new positions, contributing to a diverse investor base. Approximately 58.68% of the company's stock is currently held by institutional investors.

About QXO, Inc.

QXO, Inc. operates as a business application, technology, and consulting firm in North America. The company focuses on providing comprehensive solutions across various sectors, including accounting, business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.

QXO, short, stocks