Rxo Inc (NYSE:RXO) Sees Large Growth in Short Interest

Rxo Inc (NYSE:RXO) saw 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. Based on an average daily trading volume, of 4,609,663 shares, the days-to-cover ratio is presently 2.9 days. Currently, 8.2% of the company’s shares are sold short. Currently, 8.2% of the company’s shares are sold short. Based on an average daily trading volume, of 4,609,663 shares, the days-to-cover ratio is presently 2.9 days.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RXO. Barclays upped their price objective on shares of RXO from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup upped their price target on RXO from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Truist Financial raised their price target on RXO from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Zacks Research downgraded RXO from a “hold” rating to a “strong sell” rating in a report on Friday, January 9th. Finally, Stephens set a $15.00 target price on RXO in a report on Monday, February 9th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.47.

Institutional Investors Weigh In On RXO

Several institutional investors have recently added to or reduced their stakes in RXO. Orbis Allan Gray Ltd increased its stake in RXO by 6.5% in the fourth quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock valued at $438,327,000 after purchasing an additional 2,104,597 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of RXO by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 17,309,811 shares of the company’s stock valued at $218,796,000 after buying an additional 93,130 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of RXO by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock valued at $153,780,000 after buying an additional 735,810 shares in the last quarter. Finepoint Capital LP purchased a new position in shares of RXO in the 3rd quarter valued at $111,764,000. Finally, State Street Corp raised its stake in RXO by 3.7% during the 4th quarter. State Street Corp now owns 6,370,232 shares of the company’s stock worth $80,520,000 after acquiring an additional 230,053 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

RXO Stock Down 6.5%

NYSE:RXO traded down $1.08 during mid-day trading on Thursday, hitting $15.45. The stock had a trading volume of 1,095,919 shares, compared to its average volume of 2,553,165. RXO has a twelve month low of $10.43 and a twelve month high of $20.58. The stock has a 50-day simple moving average of $14.86 and a two-hundred day simple moving average of $15.15. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $2.54 billion, a PE ratio of -26.64, a PEG ratio of 11.55 and a beta of 1.67.

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

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.