QXO (NASDAQ:QXO) Shares Down 4.5% - Should You Sell?

QXO, Inc. (NASDAQ:QXO - Get Free Report)'s stock price fell 4.5% during mid-day trading on Monday . The stock traded as low as $16.33 and last traded at $16.23. 870,195 shares were traded during trading, a decline of 70% from the average session volume of 2,876,846 shares. The stock had previously closed at $17.00.

QXO Price Performance

The firm has a 50 day simple moving average of $14.57 and a two-hundred day simple moving average of $14.58. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of -1.88, a price-to-earnings-growth ratio of 4.09 and a beta of 2.38.

Institutional Trading of QXO

A number of hedge funds have recently made changes to their positions in QXO. Affinity Partners GP LP acquired a new stake in shares of QXO during the fourth quarter valued at about $260,941,000. Vanguard Group Inc. grew its position in QXO by 146.1% during the first quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company's stock valued at $334,539,000 after buying an additional 14,667,571 shares during the period. Blue Investment Opportunities LLC Project Breeze Series 1 bought a new stake in shares of QXO in the first quarter valued at $118,142,000. Federated Hermes Inc. purchased a new position in QXO in the 4th quarter valued at approximately $50,532,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of QXO by 523.9% in the fourth quarter. JPMorgan Chase & Co. now owns 877,902 shares of the company's stock worth $13,959,000 after buying an additional 737,192 shares in the last quarter. 58.68% of the stock is owned by institutional investors and hedge funds.

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.