QXO, Inc. (NASDAQ:QXO) Short Interest Up 52.3% in May

QXO, Inc. (NASDAQ:QXO - Get Free Report) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 28,130,000 shares, an increase of 52.3% from the May 15th total of 18,470,000 shares. Approximately 5.5% of the shares of the stock are short sold. Based on an average daily volume of 5,820,000 shares, the short-interest ratio is presently 4.8 days.

Institutional Trading of QXO

A number of hedge funds and other institutional investors have recently modified their holdings of QXO. Affinity Partners GP LP purchased a new position in shares of QXO during the fourth quarter worth $260,941,000. Vanguard Group Inc. lifted its stake in QXO by 146.1% during the 1st quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company's stock worth $334,539,000 after acquiring an additional 14,667,571 shares in the last quarter. Blue Investment Opportunities LLC Project Breeze Series 1 purchased a new position in QXO during the 1st quarter valued at about $118,142,000. Federated Hermes Inc. acquired a new position in QXO in the 4th quarter valued at about $50,532,000. Finally, JPMorgan Chase & Co. increased its stake in QXO by 523.9% during the fourth quarter. JPMorgan Chase & Co. now owns 877,902 shares of the company's stock worth $13,959,000 after purchasing an additional 737,192 shares during the period. 58.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Oppenheimer assumed coverage on QXO in a report on Wednesday, June 11th. They issued an "outperform" rating and a $27.00 price target for the company. Baird R W raised QXO to a "strong-buy" rating in a research note on Thursday. Wolfe Research assumed coverage on shares of QXO in a research report on Friday, June 6th. They set an "outperform" rating and a $44.00 price target on the stock. Finally, Robert W. Baird initiated coverage on shares of QXO in a research note on Thursday. They set an "outperform" rating and a $32.00 target price on the stock.

QXO Stock Down 2.6%

NASDAQ:QXO opened at $19.58 on Monday. QXO has a 52 week low of $10.61 and a 52 week high of $157.28. The stock's fifty day moving average is $15.43 and its two-hundred day moving average is $14.71. The company has a market capitalization of $11.32 billion, a P/E ratio of -2.15, a P/E/G ratio of 4.09 and a beta of 2.38.

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.

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