XOS (NASDAQ:XOS) Upgraded to Strong-Buy at Zacks Research

XOS (NASDAQ:XOS) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

XOS has been the topic of several other research reports. Weiss Ratings upgraded XOS from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. Wall Street Zen upgraded XOS to a “hold” rating in a report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, XOS currently has an average rating of “Moderate Buy” and a consensus price target of $7.00.

XOS Stock Performance

XOS stock opened at $2.36 on Monday. XOS has a 12-month low of $1.60 and a 12-month high of $8.27. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.89 and a quick ratio of 0.90. The company has a market capitalization of $32.38 million, a price-to-earnings ratio of -1.19 and a beta of 1.74. The firm’s fifty day moving average price is $2.82 and its 200 day moving average price is $2.32.

XOS (NASDAQ:XOS) last posted 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. The company had revenue of $11.23 million during the quarter, compared to analysts’ expectations of $6.22 million. XOS had a negative net margin of 39.13% and a negative return on equity of 86.90%. On average, research analysts forecast that XOS will post -2.29 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Emerald Green Trust sold 280,040 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $5.24, for a total value of $1,467,409.60. Following the completion of the sale, the insider directly owned 1,161,229 shares of the company’s stock, valued at $6,084,839.96. The trade was a 19.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 412,272 shares of company stock valued at $2,240,161 over the last three months. 20.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of XOS. Citadel Advisors LLC acquired a new position in shares of XOS in the 3rd quarter worth approximately $27,000. DRW Securities LLC bought a new stake in shares of XOS in the 4th quarter valued at approximately $33,000. Geode Capital Management LLC raised its position in shares of XOS by 29.9% during the 4th quarter. Geode Capital Management LLC now owns 71,145 shares of the company’s stock valued at $129,000 after acquiring an additional 16,357 shares in the last quarter. Finally, Two Sigma Investments LP bought a new position in XOS during the third quarter worth $331,000. Institutional investors 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.