QXO (NASDAQ:QXO) Shares Gap Down – Time to Sell?

QXO, Inc. (NASDAQ:QXO)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $16.22, but opened at $15.66. QXO shares last traded at $16.15, with a volume of 136,159 shares changing hands.

QXO Stock Performance

The company’s 50 day simple moving average is $15.04. The firm has a market capitalization of $6.52 billion, a P/E ratio of -1.29, a PEG ratio of 2.53 and a beta of 2.32.

QXO (NASDAQ:QXO) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $3.22 EPS for the quarter. QXO had a negative net margin of 3.75% and a positive return on equity of 0.51%. The company had revenue of $14.54 million during the quarter. Equities analysts forecast that QXO, Inc. will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other QXO news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $15.05, for a total transaction of $105,350,000.00. Following the completion of the sale, the insider now directly owns 46,908,701 shares in the company, valued at $705,975,950.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 51.30% of the company’s stock.

Hedge Funds Weigh In On QXO

Large investors have recently modified their holdings of the stock. Compagnie Lombard Odier SCmA lifted its stake in shares of QXO by 2,000.0% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 2,100 shares of the company’s stock worth $33,000 after purchasing an additional 2,000 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of QXO during the 3rd quarter worth $41,000. Gainplan LLC purchased a new stake in shares of QXO during the 3rd quarter worth $55,000. Renaissance Technologies LLC purchased a new stake in QXO in the second quarter valued at about $432,000. Finally, SG Americas Securities LLC purchased a new stake in QXO in the third quarter valued at about $103,000. Institutional investors own 58.68% of the company’s stock.

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.