QXO (NASDAQ:QXO) Trading Up 4.3% – Still a Buy?

QXO, Inc. (NASDAQ:QXO) shares traded up 4.3% during mid-day trading on Tuesday . The company traded as high as $14.23 and last traded at $14.12. 2,054,945 shares were traded 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 Price Performance

The business’s 50-day moving average price is $13.26 and its 200 day moving average price is $14.75. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of -1.51, a PEG ratio of 4.09 and a beta of 2.35.

Hedge Funds Weigh In On QXO

A number of institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System bought a new stake in QXO during the fourth quarter valued at $4,769,000. Affinity Partners GP LP bought a new stake in shares of QXO during the 4th quarter valued at about $260,941,000. Toronto Dominion Bank acquired a new stake in QXO during the fourth quarter worth about $159,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in QXO in the fourth quarter worth about $9,796,000. Finally, Squarepoint Ops LLC boosted its stake in QXO by 173.0% in the fourth quarter. Squarepoint Ops LLC now owns 291,054 shares of the company’s stock valued at $4,628,000 after acquiring an additional 184,453 shares during the period. 58.68% of the stock is owned by institutional investors and hedge funds.

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.