XOS (NASDAQ:XOS – Get Free Report) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.
Several other research firms have also commented on XOS. Wall Street Zen raised shares of XOS to a “hold” rating in a report on Sunday. Weiss Ratings raised XOS from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.
XOS Trading Up 0.9%
XOS (NASDAQ:XOS – Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $11.23 million for the quarter, compared to the consensus estimate of $6.22 million. As a group, equities research analysts predict that XOS will post -2.29 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, major shareholder Emerald Green Trust sold 280,040 shares of the company’s 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 completion of the sale, the insider owned 1,161,229 shares of the company’s stock, valued at $6,084,839.96. This represents a 19.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 412,272 shares of company stock worth $2,240,161. 20.70% of the stock is currently owned by insiders.
Hedge Funds Weigh In On XOS
A number of institutional investors and hedge funds have recently added to or reduced their stakes in XOS. Citadel Advisors LLC purchased a new stake in shares of XOS during the 3rd quarter valued at approximately $27,000. DRW Securities LLC acquired a new stake in XOS during the fourth quarter worth $33,000. Geode Capital Management LLC raised its position in XOS by 29.9% in the fourth quarter. Geode Capital Management LLC now owns 71,145 shares of the company’s stock valued at $129,000 after purchasing an additional 16,357 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in XOS in the third quarter valued at $331,000. Institutional investors and hedge funds own 12.86% of the company’s stock.
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.
See Also
- Five stocks we like better than XOS
- Why Fastenal’s Latest Drop Could Be Its Biggest Opportunity Yet
- 3 Overlooked Energy ETFs Delivering Strong Returns and Income
- 3 Space Stocks That Could Outshine SpaceX After Its IPO
- JPMorgan’s Q2 Strength Gives the Stock Rally New Support
Receive News & Ratings for XOS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for XOS and related companies with MarketBeat.com's FREE daily email newsletter.
