QXO (NASDAQ:QXO) Shares Gap Up – Here’s What Happened

QXO, Inc. (NASDAQ:QXO) shares 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 Stock Up 2.5 %

The company’s fifty day moving average price is $13.43 and its 200 day moving average price is $14.79. The company has a market capitalization of $5.48 billion, a P/E ratio of -1.46, a PEG ratio of 4.09 and a beta of 2.35.

Hedge Funds Weigh In On QXO

Hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System acquired a new position in shares of QXO during the fourth quarter valued at about $4,769,000. Affinity Partners GP LP purchased a new position in QXO in the fourth quarter valued at about $260,941,000. Toronto Dominion Bank purchased a new stake in shares of QXO during the 4th quarter valued at approximately $159,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in QXO in the 4th quarter worth approximately $9,796,000. Finally, Squarepoint Ops LLC lifted its stake in QXO by 173.0% in the 4th quarter. Squarepoint Ops LLC now owns 291,054 shares of the company’s stock worth $4,628,000 after purchasing an additional 184,453 shares in the last quarter. Institutional investors and hedge funds 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.