Horizon Advisory Services Inc. Purchases Shares of 11,800 QXO, Inc. (NASDAQ:QXO)

Horizon Advisory Services Inc. purchased a new position in QXO, Inc. (NASDAQ:QXO - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 11,800 shares of the company's stock, valued at approximately $160,000.

A number of other hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in QXO by 57.4% in the first quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company's stock valued at $38,000 after acquiring an additional 1,017 shares during the period. Bessemer Group Inc. acquired a new position in shares of QXO during the first quarter worth approximately $52,000. Praxis Investment Management Inc. acquired a new position in shares of QXO during the first quarter worth approximately $156,000. Parallel Advisors LLC boosted its position in shares of QXO by 62.2% during the first quarter. Parallel Advisors LLC now owns 11,570 shares of the company's stock worth $157,000 after buying an additional 4,439 shares during the period. Finally, Toronto Dominion Bank acquired a new position in shares of QXO during the fourth quarter worth approximately $159,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

QXO Trading Up 0.5%

NASDAQ:QXO traded up $0.10 during trading hours on Tuesday, hitting $21.15. 6,146,803 shares of the stock traded hands, compared to its average volume of 4,166,799. The firm has a 50 day moving average price of $18.98 and a 200 day moving average price of $15.51. QXO, Inc. has a fifty-two week low of $10.61 and a fifty-two week high of $157.28. The firm has a market cap of $12.28 billion, a price-to-earnings ratio of -2.32, a PEG ratio of 4.09 and a beta of 2.41.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Oppenheimer assumed coverage on QXO in a research report on Wednesday, June 11th. They set an "outperform" rating and a $27.00 price objective for the company. Baird R W upgraded QXO to a "strong-buy" rating in a research report on Thursday, June 12th. Robert W. Baird began coverage on QXO in a research report on Thursday, June 12th. They set an "outperform" rating and a $32.00 price objective for the company. Truist Financial began coverage on QXO in a research report on Tuesday, July 1st. They issued a "buy" rating and a $30.00 target price for the company. Finally, Wolfe Research began coverage on QXO in a research report on Friday, June 6th. They issued an "outperform" rating and a $44.00 target price for the company. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $33.25.

QXO 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.