QXO, Inc. (NYSE:QXO) Short Interest Update

QXO, Inc. (NYSE:QXO) saw a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 105,728,316 shares, a drop of 35.6% from the June 30th total of 164,138,596 shares. Approximately 24.7% of the company’s stock are short sold. Based on an average daily trading volume, of 33,813,115 shares, the days-to-cover ratio is presently 3.1 days.

QXO Stock Performance

Shares of QXO stock traded down $0.12 during mid-day trading on Friday, reaching $13.34. The stock had a trading volume of 12,669,959 shares, compared to its average volume of 25,563,084. The business’s fifty day moving average is $15.79 and its 200-day moving average is $19.65. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. The firm has a market cap of $13.84 billion, a price-to-earnings ratio of -14.66, a PEG ratio of 2.40 and a beta of 2.23. QXO has a 1-year low of $13.18 and a 1-year high of $27.61.

QXO (NYSE:QXO) last released its earnings results on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The firm’s revenue for the quarter was up 12716.3% compared to the same quarter last year. On average, research analysts forecast that QXO will post 0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of QXO. Arax Advisory Partners purchased a new stake in shares of QXO in the 4th quarter valued at approximately $25,000. LRI Investments LLC lifted its stake in QXO by 129.1% in the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after acquiring an additional 835 shares during the last quarter. Root Financial Partners LLC lifted its position in shares of QXO by 73,350.0% during the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock worth $29,000 after purchasing an additional 1,467 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its position in shares of QXO by 57.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after acquiring an additional 575 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in QXO in the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup reduced their target price on shares of QXO from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, July 13th. Stephens lowered their price target on shares of QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a research report on Friday, May 29th. Zacks Research upgraded shares of QXO from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Oppenheimer lifted their price target on shares of QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.71.

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. It also offers value-added services that focuses on consulting and professional, specialized programming, training, and technical support services. In addition, the company provides information technology managed services, such as cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services; and data back-up, network maintenance, and upgrade services.