Investors Buy High Volume of QXO Call Options (NASDAQ:QXO)

QXO, Inc. (NASDAQ:QXO) saw some unusual options trading activity on Friday. Investors purchased 10,150 call options on the stock. This is an increase of 329% compared to the typical daily volume of 2,365 call options.

Analyst Upgrades and Downgrades

Separately, Wolfe Research began coverage on shares of QXO in a research note on Friday. They issued an “outperform” rating and a $44.00 price objective on the stock.

QXO Stock Up 13.6%

Shares of NASDAQ QXO opened at $19.02 on Friday. The company’s fifty day simple moving average is $14.80 and its 200 day simple moving average is $14.62. The firm has a market cap of $11.00 billion, a PE ratio of -2.09, a P/E/G ratio of 4.09 and a beta of 2.38. QXO has a 12-month low of $10.61 and a 12-month high of $290.00.

Hedge Funds Weigh In On QXO

Hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC purchased a new stake in QXO during the 1st quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new stake in QXO in the first quarter worth $27,000. CWM LLC purchased a new stake in QXO in the first quarter worth $27,000. First Horizon Advisors Inc. increased 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 worth $38,000 after purchasing an additional 1,017 shares during the period. Finally, Signaturefd LLC increased its stake in shares of QXO by 533.6% during the first quarter. Signaturefd LLC now owns 3,168 shares of the company’s stock valued at $43,000 after buying an additional 2,668 shares during the period. 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.