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

QXO, Inc. (NASDAQ:QXO)’s stock price gapped up before the market opened 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 trading hands.

QXO Stock Performance

The stock 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 stock has a 50-day moving average price of $13.87 and a 200-day moving average price of $14.86.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Finepoint Capital LP bought a new position in shares of QXO during the third quarter valued at about $406,090,000. Affinity Partners GP LP bought a new position in QXO during the 4th quarter valued at approximately $260,941,000. Federated Hermes Inc. purchased a new stake in QXO in the 4th quarter worth approximately $50,532,000. Geode Capital Management LLC increased its stake in shares of QXO by 64,992.4% during the third quarter. Geode Capital Management LLC now owns 2,853,653 shares of the company’s stock valued at $45,019,000 after buying an additional 2,849,269 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new stake in QXO in the third quarter worth $32,559,000. 58.68% of the stock is owned by hedge funds and other 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.