QXO (NASDAQ:QXO) Trading 4.3% Higher – Still a Buy?

QXO, Inc. (NASDAQ:QXO) shares shot up 4.3% during mid-day trading on Tuesday . The company traded as high as $14.23 and last traded at $14.12. 2,054,945 shares traded hands during trading, a decline of 6% from the average session volume of 2,178,378 shares. The stock had previously closed at $13.54.

QXO Price Performance

The company has a fifty day moving average price of $13.24 and a 200 day moving average price of $14.76. The company has a market cap of $5.81 billion, a PE ratio of -1.56, a price-to-earnings-growth ratio of 4.09 and a beta of 2.35.

Hedge Funds Weigh In On QXO

A number of institutional investors have recently made changes to their positions in the stock. Summit Trail Advisors LLC raised its stake in shares of QXO by 1.3% during the fourth quarter. Summit Trail Advisors LLC now owns 115,967 shares of the company’s stock worth $1,844,000 after acquiring an additional 1,497 shares in the last quarter. Wellington Shields & Co. LLC raised its position in QXO by 2.0% in the 4th quarter. Wellington Shields & Co. LLC now owns 75,000 shares of the company’s stock worth $1,192,000 after purchasing an additional 1,500 shares during the period. SG Americas Securities LLC lifted 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 worth $152,000 after purchasing an additional 3,000 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake 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. Finally, Simon Quick Advisors LLC boosted its position in QXO by 24.0% during the fourth quarter. Simon Quick Advisors LLC now owns 15,834 shares of the company’s stock valued at $252,000 after buying an additional 3,064 shares during the period. Institutional investors own 58.68% of the company’s stock.

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.