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

QXO, Inc. (NASDAQ:QXO)’s share 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 changing hands.

QXO Stock Performance

The company has a 50-day simple moving average of $13.78 and a two-hundred day simple moving average of $14.85. The firm has a market capitalization of $5.43 billion, a P/E ratio of -1.45, a PEG ratio of 4.09 and a beta of 2.35.

Institutional Trading of QXO

Large investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new position in shares of QXO during the third quarter valued at approximately $41,000. SG Americas Securities LLC lifted its holdings in shares of QXO by 45.8% during the fourth quarter. SG Americas Securities LLC now owns 9,544 shares of the company’s stock valued at $152,000 after purchasing an additional 3,000 shares during the last quarter. Toronto Dominion Bank purchased a new position in shares of QXO during the fourth quarter valued at approximately $159,000. Invesco Ltd. purchased a new position in shares of QXO during the fourth quarter valued at approximately $164,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of QXO during the third quarter valued at approximately $166,000. 58.68% of the stock is owned by 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.