Investors Buy High Volume of Call Options on QXO (NYSE:QXO)

QXO, Inc. (NYSE:QXO) was the recipient of some unusual options trading activity on Monday. Traders acquired 39,858 call options on the stock. This is an increase of approximately 109% compared to the average daily volume of 19,051 call options.

Analyst Ratings Changes

Several research analysts recently issued reports on QXO shares. Citigroup dropped their price objective on QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. BNP Paribas Exane began coverage on QXO in a research report on Monday, March 16th. They set an “outperform” rating and a $30.00 target price for the company. Robert W. Baird lowered their target price on QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Royal Bank Of Canada dropped their price target on QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, April 6th. Finally, Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Fifteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.86.

Institutional Investors Weigh In On QXO

Institutional investors have recently bought and sold shares of the company. Arax Advisory Partners purchased a new position in QXO in the fourth quarter worth $25,000. Russell Investments Group Ltd. acquired a new stake in shares of QXO in the 2nd quarter worth $30,000. Root Financial Partners LLC boosted its position in shares of QXO by 73,350.0% in the 1st quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock worth $29,000 after purchasing an additional 1,467 shares in the last quarter. LRI Investments LLC grew its stake in QXO by 129.1% during the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after buying an additional 835 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. increased its position in QXO by 57.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after buying an additional 575 shares in the last quarter. 58.68% of the stock is currently owned by institutional investors and hedge funds.

QXO Stock Down 2.7%

Shares of QXO traded down $0.45 during trading hours on Monday, hitting $15.77. The company had a trading volume of 10,254,553 shares, compared to its average volume of 13,353,448. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $11.43 billion, a PE ratio of -17.34, a price-to-earnings-growth ratio of 4.16 and a beta of 2.23. QXO has a one year low of $14.75 and a one year high of $27.61. The company’s fifty day moving average price is $17.45 and its two-hundred day moving average price is $20.69.

QXO (NYSE:QXO) last posted its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The company’s revenue was up 12716.3% compared to the same quarter last year. As a group, equities analysts forecast that QXO will post 0.2 earnings per share for the current fiscal year.

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. It also offers value-added services that focuses on consulting and professional, specialized programming, training, and technical support services. In addition, the company provides information technology managed services, such as cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services; and data back-up, network maintenance, and upgrade services.