QXO (NASDAQ:QXO) Trading Up 3.1% – Time to Buy?

QXO, Inc. (NASDAQ:QXO)’s stock price was up 3.1% during mid-day trading on Tuesday . The company traded as high as $13.57 and last traded at $13.40. Approximately 266,178 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 2,013,499 shares. The stock had previously closed at $13.00.

QXO Price Performance

The stock has a market capitalization of $5.28 billion, a P/E ratio of -1.41, a PEG ratio of 4.09 and a beta of 2.35. The stock’s fifty day moving average is $13.54 and its 200-day moving average is $14.81.

Institutional Investors Weigh In On QXO

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. acquired a new position in QXO during the 3rd quarter worth $2,219,000. Advyzon Investment Management LLC acquired a new position in QXO during the 4th quarter worth $527,000. Finepoint Capital LP acquired a new position in QXO during the 3rd quarter worth $406,090,000. Summit Trail Advisors LLC acquired a new position in QXO during the 3rd quarter worth $1,805,000. Finally, State Street Corp acquired a new position in QXO during the 3rd quarter worth $16,245,000. 58.68% of the stock is currently owned by institutional investors.

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.