From MarketBeat:

GXO Logistics, Inc. (NYSE:GXO) saw a significant increase in short interest in December, with 2,870,000 shares, up 13.0% from November 30th. The short-interest ratio is presently 4.2 days, with approximately 2.5% of company shares sold short. Analysts at various firms have set new price targets for GXO, with Wells Fargo, Oppenheimer, UBS Group, JPMorgan Chase, and Susquehanna all altering their ratings. The company currently has an average rating of “Moderate Buy” and an average price target of $67.44.

GXO Logistics’s shares traded down 3.9% to $57.77 during midday trading on Wednesday. The company has a market cap of $6.87 billion and announced its quarterly earnings data on Tuesday, November 7th, reporting $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65. Research analysts predict that GXO Logistics will post 2.6 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its stake in GXO Logistics by 217.2% in the 2nd quarter. DekaBank Deutsche Girozentrale, Geneos Wealth Management Inc., and Financial Management Professionals Inc. also acquired stakes. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics, Inc provides logistics services worldwide, including warehousing, distribution, order fulfillment, and e-commerce services across 979 facilities. The company serves various customers in e-commerce, omnichannel retail, technology, consumer electronics, food and beverage, industrial and manufacturing, consumer packaged goods, and other sectors.



Read more: GXO Logistics, Inc. (NYSE:GXO) Short Interest Update