QXO (NASDAQ:QXO) Stock Price Up 3.1% - Here's What Happened

QXO, Inc. (NASDAQ:QXO - Get Free Report)'s stock price traded up 3.1% during mid-day trading on Tuesday . The company traded as high as $13.57 and last traded at $13.40. 266,178 shares were traded during trading, a decline of 87% from the average session volume of 2,013,499 shares. The stock had previously closed at $13.00.

QXO Stock Performance

The business has a 50-day moving average of $13.34 and a 200-day moving average of $14.79. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of -1.39, a P/E/G 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. Brown Brothers Harriman & Co. purchased a new position in QXO during the 3rd quarter valued at about $41,000. SG Americas Securities LLC increased its position in QXO by 45.8% during the fourth quarter. SG Americas Securities LLC now owns 9,544 shares of the company's stock worth $152,000 after buying an additional 3,000 shares during the period. Toronto Dominion Bank acquired a new position in QXO during the fourth quarter worth approximately $159,000. Invesco Ltd. acquired a new position in shares of QXO in the fourth quarter valued at approximately $164,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of QXO in the third quarter valued at approximately $166,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

QXO Company Profile

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.