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

QXO, Inc. (NASDAQ:QXO) shares gapped up before the market opened on Thursday . The stock had previously closed at $13.05, but opened at $13.42. QXO shares last traded at $13.64, with a volume of 879,813 shares trading hands.

QXO Stock Up 2.5 %

The company has a market cap of $5.48 billion, a price-to-earnings ratio of -1.46, a PEG ratio of 4.09 and a beta of 2.35. The business has a 50-day simple moving average of $13.43 and a two-hundred day simple moving average of $14.79.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. acquired a new position in QXO during the 3rd quarter worth $41,000. SG Americas Securities LLC increased its holdings in QXO by 45.8% during 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 in the last quarter. Toronto Dominion Bank bought a new position in QXO during the 4th quarter worth about $159,000. Invesco Ltd. bought a new position in shares of QXO in the 4th quarter valued at about $164,000. Finally, BNP Paribas Financial Markets bought a new position in shares of QXO in the 3rd quarter valued at about $166,000. 58.68% of the stock is owned by institutional investors and hedge funds.

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.