QXO (NASDAQ:QXO) Stock Price Down 2.6% - Time to Sell?

QXO, Inc. (NASDAQ:QXO - Get Free Report) fell 2.6% on Tuesday . The company traded as low as $12.68 and last traded at $12.39. 142,487 shares were traded during mid-day trading, a decline of 94% from the average session volume of 2,359,582 shares. The stock had previously closed at $12.72.

QXO Price Performance

The firm has a 50-day moving average of $13.20 and a 200-day moving average of $14.58. The stock has a market cap of $5.68 billion, a PE ratio of -1.39, a PEG ratio of 4.09 and a beta of 2.16.

Hedge Funds Weigh In On QXO

Institutional investors and hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. bought a new position in shares of QXO in the 1st quarter valued at about $52,000. SG Americas Securities LLC lifted its stake in shares of QXO by 45.8% in the 4th 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 in the 4th quarter worth approximately $159,000. Invesco Ltd. purchased a new position in shares of QXO in the 4th quarter worth approximately $164,000. Finally, Entropy Technologies LP bought a new position in shares of QXO during the 4th quarter valued at approximately $169,000. 58.68% of the stock is 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.