QXO (NASDAQ:QXO) Shares Gap Up – Time to Buy?

QXO, Inc. (NASDAQ:QXO)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $13.38, but opened at $13.75. QXO shares last traded at $13.80, with a volume of 834,505 shares traded.

QXO Stock Performance

The firm has a market cap of $5.43 billion, a P/E ratio of -1.45, a P/E/G ratio of 4.09 and a beta of 2.35. The business’s 50-day simple moving average is $13.78 and its 200 day simple moving average is $14.85.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of QXO. Brown Brothers Harriman & Co. purchased a new stake in QXO in the 3rd quarter worth $41,000. SG Americas Securities LLC raised its position in QXO by 45.8% in the 4th quarter. SG Americas Securities LLC now owns 9,544 shares of the company’s stock worth $152,000 after purchasing an additional 3,000 shares during the period. Toronto Dominion Bank purchased a new stake in QXO in the 4th quarter worth about $159,000. Invesco Ltd. purchased a new stake in QXO in the 4th quarter worth about $164,000. Finally, BNP Paribas Financial Markets purchased a new stake in QXO in the 3rd quarter worth about $166,000. Institutional investors own 58.68% of the company’s stock.

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.