QXO, Inc. (NASDAQ:QXO) Short Interest Up 24.4% in November

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

QXO Stock Up 5.1 %

NASDAQ QXO traded up $0.82 during trading hours on Monday, reaching $16.96. 1,835,439 shares of the company traded hands, compared to its average volume of 1,149,344. The stock has a market capitalization of $6.94 billion, a PE ratio of -1.77 and a beta of 2.32. QXO has a 12 month low of $10.61 and a 12 month high of $290.00. The stock has a 50 day simple moving average of $15.87.

Insider Activity at QXO

In other news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of QXO stock in a transaction dated Wednesday, November 6th. The stock was 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 of the company’s stock, valued at approximately $705,975,950.05. The trade was a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 51.30% of the company’s stock.

Institutional Trading of QXO

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in QXO during the second quarter valued at $432,000. Millennium Management LLC acquired a new position in shares of QXO in the 2nd quarter valued at about $159,247,000. Driehaus Capital Management LLC bought a new stake in shares of QXO during the 2nd quarter valued at about $160,859,000. SG Americas Securities LLC acquired a new stake in QXO during the third quarter worth about $103,000. Finally, Gainplan LLC acquired a new stake in QXO during the third quarter worth about $55,000. 58.68% of the stock is owned by institutional investors.

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.