QXO (NASDAQ:QXO) Shares Up 4.3% – Here’s Why

QXO, Inc. (NASDAQ:QXO)’s stock price traded up 4.3% on Tuesday . The company traded as high as $14.23 and last traded at $14.12. 2,054,945 shares changed 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 Stock Up 4.7 %

The stock has a market cap of $5.81 billion, a P/E ratio of -1.56, a price-to-earnings-growth ratio of 4.09 and a beta of 2.35. The business’s 50-day simple moving average is $13.24 and its two-hundred day simple moving average is $14.76.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC boosted its holdings in shares of 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 acquiring an additional 3,000 shares during the period. Toronto Dominion Bank purchased a new stake in QXO during the 4th quarter worth about $159,000. Invesco Ltd. bought a new position in QXO in the 4th quarter worth about $164,000. BNP Paribas Financial Markets purchased a new position in QXO during the 3rd quarter valued at about $166,000. Finally, Entropy Technologies LP purchased a new position in QXO during the 4th quarter valued at about $169,000. 58.68% of the stock is currently owned by hedge funds and other 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.