Short Interest in Rxo Inc (NYSE:RXO) Grows By 19.8%

Rxo Inc (NYSE:RXO) was the recipient of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 13,322,184 shares, a growth of 19.8% from the January 29th total of 11,119,056 shares. Approximately 8.2% of the shares of the stock are sold short. Based on an average trading volume of 4,609,663 shares, the days-to-cover ratio is presently 2.9 days. Based on an average trading volume of 4,609,663 shares, the days-to-cover ratio is presently 2.9 days. Approximately 8.2% of the shares of the stock are sold short.

RXO Trading Up 0.9%

NYSE:RXO traded up $0.14 during trading hours on Wednesday, hitting $16.58. 1,524,736 shares of the company were exchanged, compared to its average volume of 2,589,280. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of -28.59, a price-to-earnings-growth ratio of 11.43 and a beta of 1.67. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.25. RXO has a one year low of $10.43 and a one year high of $20.58. The company has a fifty day simple moving average of $14.78 and a 200 day simple moving average of $15.14.

RXO (NYSE:RXO) last issued its quarterly earnings results on Friday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). RXO had a negative return on equity of 0.44% and a negative net margin of 1.74%.The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the firm posted $0.06 EPS. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. Sell-side analysts expect that RXO will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barclays upped their price objective on shares of RXO from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday. Susquehanna upped their price target on shares of RXO from $10.00 to $11.00 and gave the stock a “negative” rating in a report on Thursday, January 8th. Wall Street Zen cut RXO from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Wolfe Research upgraded RXO from an “underperform” rating to a “peer perform” rating in a research report on Friday, November 14th. Finally, TD Cowen reaffirmed a “hold” rating on shares of RXO in a report on Friday, January 9th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.47.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its stake in shares of RXO by 14.3% in the 1st quarter. Royal Bank of Canada now owns 23,251 shares of the company’s stock valued at $444,000 after buying an additional 2,902 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in RXO by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,940 shares of the company’s stock worth $1,813,000 after acquiring an additional 4,134 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in RXO in the first quarter worth approximately $30,000. Strs Ohio acquired a new stake in RXO in the first quarter valued at approximately $97,000. Finally, AlphaQuest LLC bought a new stake in shares of RXO during the second quarter valued at approximately $29,000. 92.73% of the stock is owned by institutional investors and hedge funds.

About RXO

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.