QXO (NASDAQ:QXO) Shares Gap Up – Here’s What Happened

QXO, Inc. (NASDAQ:QXO) shares gapped up prior to trading on Tuesday . The stock had previously closed at $12.35, but opened at $12.65. QXO shares last traded at $12.24, with a volume of 250,216 shares trading hands.

QXO Stock Up 3.6 %

The firm has a market cap of $5.24 billion, a PE ratio of -1.40, a price-to-earnings-growth ratio of 4.09 and a beta of 2.27. The business has a 50 day simple moving average of $14.08 and a two-hundred day simple moving average of $14.85.

Institutional Investors Weigh In On QXO

A number of hedge funds have recently made changes to their positions in the stock. Summit Trail Advisors LLC raised its holdings in QXO by 1.3% in the fourth quarter. Summit Trail Advisors LLC now owns 115,967 shares of the company’s stock worth $1,844,000 after purchasing an additional 1,497 shares in the last quarter. Wellington Shields & Co. LLC raised its stake in shares of QXO by 2.0% during the 4th quarter. Wellington Shields & Co. LLC now owns 75,000 shares of the company’s stock worth $1,192,000 after acquiring an additional 1,500 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in QXO during the third quarter valued at approximately $41,000. SG Americas Securities LLC boosted its stake in QXO by 45.8% in the fourth quarter. SG Americas Securities LLC now owns 9,544 shares of the company’s stock valued at $152,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in QXO by 23.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 15,908 shares of the company’s stock worth $253,000 after purchasing an additional 3,050 shares during the last quarter. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

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.