QXO, Inc. (NASDAQ:QXO – Get Free Report) shares were up 4.7% on Tuesday . The company traded as high as $18.19 and last traded at $18.33. Approximately 1,233,885 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 2,575,713 shares. The stock had previously closed at $17.51.
QXO Stock Up 8.3%
The company has a 50 day simple moving average of $13.76 and a 200 day simple moving average of $14.47. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of -2.08, a price-to-earnings-growth ratio of 4.09 and a beta of 2.27.
Hedge Funds Weigh In On QXO
Institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of QXO by 13.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock valued at $9,449,000 after buying an additional 81,758 shares during the period. Blue Investment Opportunities LLC Project Breeze Series 1 acquired a new position in QXO in the first quarter worth approximately $118,142,000. Millennium Management LLC lifted its stake in QXO by 6.6% during the first quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock valued at $4,361,000 after buying an additional 20,067 shares in the last quarter. Eschler Asset Management LLP purchased a new position in shares of QXO during the first quarter valued at $812,000. Finally, AQR Capital Management LLC acquired a new position in QXO in the 1st quarter valued at approximately $615,000. 58.68% of the stock is currently 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.
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