QXO (NASDAQ:QXO) Shares Gap Up – Should You Buy?

Shares of QXO, Inc. (NASDAQ:QXO) 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 traded.

QXO Price Performance

The firm’s 50-day moving average price is $13.34 and its 200 day moving average price is $14.78. The firm has a market cap of $5.19 billion, a P/E ratio of -1.39, a PEG ratio of 4.09 and a beta of 2.35.

Hedge Funds Weigh In On QXO

Large investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. acquired a new stake in QXO during the third quarter worth about $442,000. CIBC Asset Management Inc acquired a new stake in QXO during the third quarter worth about $186,000. Landscape Capital Management L.L.C. acquired a new stake in QXO during the third quarter worth about $622,000. Massachusetts Financial Services Co. MA acquired a new stake in QXO during the third quarter worth about $32,559,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in QXO during the third quarter worth about $24,130,000. Institutional investors own 58.68% of the company’s stock.

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.