Zacks Research downgraded shares of XOS (NASDAQ:XOS – Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.
Several other research firms have also recently weighed in on XOS. Weiss Ratings cut XOS from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Wall Street Zen upgraded XOS to a “hold” rating in a research report on Sunday, July 12th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.00.
Read Our Latest Analysis on XOS
XOS Stock Performance
XOS (NASDAQ:XOS – Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.29. XOS had a negative net margin of 39.13% and a negative return on equity of 86.90%. The company had revenue of $11.23 million for the quarter, compared to the consensus estimate of $6.22 million. As a group, analysts anticipate that XOS will post -2.08 EPS for the current year.
Insiders Place Their Bets
In other news, major shareholder Emerald Green Trust sold 280,040 shares of XOS stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $5.24, for a total transaction of $1,467,409.60. Following the transaction, the insider owned 1,161,229 shares in the company, valued at $6,084,839.96. This trade represents a 19.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 412,272 shares of company stock valued at $2,240,161 in the last 90 days. 20.70% of the stock is currently owned by company insiders.
Institutional Trading of XOS
Institutional investors and hedge funds have recently bought and sold shares of the stock. Two Sigma Investments LP purchased a new stake in XOS during the third quarter valued at approximately $331,000. DRW Securities LLC purchased a new stake in XOS in the 4th quarter worth about $33,000. Geode Capital Management LLC lifted its stake in XOS by 29.9% in the fourth quarter. Geode Capital Management LLC now owns 71,145 shares of the company’s stock worth $129,000 after purchasing an additional 16,357 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in XOS in the third quarter worth about $27,000. 12.86% of the stock is currently owned by institutional investors.
About XOS
Xos, Inc (NASDAQ: XOS) is a U.S.-based manufacturer of commercial electric vehicles, offering Class 5 through Class 8 electric trucks, chassis and proprietary battery systems. The company’s core business spans vehicle design, powertrain integration, battery management and telematics, aimed at supporting last-mile delivery, beverage distribution and vocational fleets. Xos combines modular vehicle architectures with advanced software to deliver route-optimized performance and zero-emission operation for commercial customers.
Founded in 2016 as a spin-off from a specialty vehicle division, Xos designs, engineers and assembles its electric trucks at a manufacturing facility in Morristown, Tennessee, while maintaining research and development operations in California.
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