Corrado Advisors LLC Takes Position in QXO, Inc. (NASDAQ:QXO)

Corrado Advisors LLC purchased a new stake in QXO, Inc. (NASDAQ:QXO - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 84,857 shares of the company's stock, valued at approximately $1,149,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in QXO by 685.6% in the fourth quarter. Bank of New York Mellon Corp now owns 450,467 shares of the company's stock worth $7,162,000 after buying an additional 393,126 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of QXO by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,544,224 shares of the company's stock worth $24,553,000 after acquiring an additional 14,073 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of QXO during the 4th quarter worth about $2,711,000. Raymond James Financial Inc. bought a new position in QXO during the 4th quarter valued at about $1,235,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in QXO during the 4th quarter valued at about $1,384,000. Hedge funds and other institutional investors own 58.68% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Truist Financial initiated coverage on QXO in a research report on Tuesday, July 1st. They set a "buy" rating and a $30.00 target price for the company. William Blair assumed coverage on QXO in a research note on Wednesday, June 18th. They set an "outperform" rating for the company. Wolfe Research initiated coverage on QXO in a research report on Friday, June 6th. They issued an "outperform" rating and a $44.00 price objective on the stock. Baird R W upgraded QXO to a "strong-buy" rating in a research note on Thursday, June 12th. Finally, Oppenheimer started coverage on shares of QXO in a research note on Wednesday, June 11th. They set an "outperform" rating and a $27.00 target price for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $33.25.

QXO Stock Performance

Shares of NASDAQ QXO opened at $21.20 on Monday. QXO, Inc. has a 52-week low of $10.61 and a 52-week high of $157.28. The firm has a market capitalization of $12.30 billion, a price-to-earnings ratio of -2.32, a PEG ratio of 4.09 and a beta of 2.41. The stock has a 50 day moving average price of $18.84 and a 200 day moving average price of $15.48.

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.

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