QXO (NASDAQ:QXO) Shares Gap Up – What’s Next?

Shares of QXO, Inc. (NASDAQ:QXO) 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.

QXO Trading Down 0.8 %

The company has a market cap of $5.44 billion, a P/E ratio of -1.44, a P/E/G ratio of 4.09 and a beta of 2.35. The firm has a 50 day moving average of $13.87 and a 200-day moving average of $14.86.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Finepoint Capital LP purchased a new stake in shares of QXO during the 3rd quarter worth approximately $406,090,000. Affinity Partners GP LP bought a new position in QXO during the fourth quarter valued at $260,941,000. T. Rowe Price Investment Management Inc. grew its stake in shares of QXO by 3.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,886,193 shares of the company’s stock worth $173,091,000 after buying an additional 312,299 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of QXO by 24.6% in the 4th quarter. Vanguard Group Inc. now owns 10,039,864 shares of the company’s stock worth $159,634,000 after buying an additional 1,979,147 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of QXO during the 4th quarter valued at about $50,532,000. 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.