Insider Selling: XOS (NASDAQ:XOS) Major Shareholder Sells 280,040 Shares of Stock

Xos, Inc. (NASDAQ:XOS) major shareholder Emerald Green Trust sold 280,040 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $5.24, for a total value of $1,467,409.60. Following the sale, the insider owned 1,161,229 shares in the company, valued at approximately $6,084,839.96. The trade was a 19.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Emerald Green Trust also recently made the following trade(s):

• On Wednesday, June 3rd, Emerald Green Trust sold 119,960 shares of XOS stock. The stock was sold at an average price of $6.06, for a total value of $726,957.60.

XOS Stock Down 10.2%

XOS stock traded down $0.54 during midday trading on Friday, hitting $4.74. 2,519,372 shares of the company’s stock were exchanged, compared to its average volume of 1,494,738. The company has a current ratio of 1.89, a quick ratio of 0.90 and a debt-to-equity ratio of 0.51. Xos, Inc. has a 12-month low of $1.60 and a 12-month high of $8.27. The firm has a 50 day moving average price of $2.06 and a 200-day moving average price of $2.15. The stock has a market capitalization of $57.45 million, a price-to-earnings ratio of -2.39 and a beta of 1.81.

XOS (NASDAQ:XOS) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.29. XOS had a negative return on equity of 86.90% and a negative net margin of 39.13%.The company had revenue of $11.23 million for the quarter, compared to the consensus estimate of $6.23 million. On average, analysts anticipate that Xos, Inc. will post -2.29 EPS for the current year.

Analyst Upgrades and Downgrades

XOS has been the topic of several analyst reports. Weiss Ratings upgraded XOS from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Zacks Research downgraded XOS from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, XOS presently has an average rating of “Hold” and an average price target of $7.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC acquired a new position in shares of XOS in the 3rd quarter worth approximately $27,000. DRW Securities LLC acquired a new position in shares of XOS in the 4th quarter worth approximately $33,000. Geode Capital Management LLC grew its position in shares of XOS by 29.9% in the 4th quarter. Geode Capital Management LLC now owns 71,145 shares of the company’s stock worth $129,000 after acquiring an additional 16,357 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of XOS in the 3rd quarter worth approximately $331,000. Institutional investors and hedge funds own 12.86% of the company’s stock.

XOS Company Profile

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.