QXO (NASDAQ:QXO) Shares Gap Up – Time to Buy?

QXO, Inc. (NASDAQ:QXO) gapped up before the market opened on Wednesday . The stock had previously closed at $14.19, but opened at $14.71. QXO shares last traded at $14.71, with a volume of 308,457 shares traded.

QXO Stock Up 0.8 %

The firm has a market cap of $5.59 billion, a P/E ratio of -1.49, a price-to-earnings-growth ratio of 3.32 and a beta of 2.28. The firm’s 50-day simple moving average is $15.36 and its 200 day simple moving average is $17.56.

Hedge Funds Weigh In On QXO

Several institutional investors and hedge funds have recently bought and sold shares of the company. Compagnie Lombard Odier SCmA lifted its holdings in QXO by 2,000.0% during the third quarter. Compagnie Lombard Odier SCmA now owns 2,100 shares of the company’s stock valued at $33,000 after purchasing an additional 2,000 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in QXO during the 3rd quarter valued at $41,000. SG Americas Securities LLC purchased a new stake in shares of QXO during the third quarter worth $103,000. Claro Advisors LLC bought a new position in shares of QXO in the third quarter worth $111,000. Finally, Diversify Wealth Management LLC bought a new stake in shares of QXO during the 3rd quarter valued at $156,000. 58.68% of the stock is owned by 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.