XOS (NASDAQ:XOS) Stock Price Up 12.2% – Still a Buy?

Xos, Inc. (NASDAQ:XOS) traded up 12.2% during mid-day trading on Wednesday . The company traded as high as $3.04 and last traded at $2.95. Approximately 1,519,591 shares changed hands during trading, an increase of 1,111% from the average daily volume of 125,477 shares. The stock had previously closed at $2.63.

Analyst Ratings Changes

XOS has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of XOS from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. Wall Street Zen upgraded XOS to a “hold” rating in a report on Sunday, July 12th. Finally, Zacks Research upgraded XOS from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

XOS Stock Performance

The stock has a fifty day simple moving average of $2.88 and a 200-day simple moving average of $2.34. The stock has a market cap of $40.47 million, a P/E ratio of -1.49 and a beta of 1.76. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.90 and a current ratio of 1.89.

XOS (NASDAQ:XOS) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.29. The company had revenue of $11.23 million for the quarter, compared to analyst estimates of $6.22 million. XOS had a negative return on equity of 86.90% and a negative net margin of 39.13%. On average, equities analysts expect that Xos, Inc. will post -2.29 earnings per share for the current year.

Insider Transactions at XOS

In other XOS news, major shareholder Emerald Green Trust sold 280,040 shares of the business’s stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 412,272 shares of company stock valued at $2,240,161. 20.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On XOS

Hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC acquired a new stake in shares of XOS in the third quarter valued at approximately $27,000. DRW Securities LLC bought a new stake in shares of XOS in the fourth quarter worth $33,000. Geode Capital Management LLC boosted its holdings in XOS by 29.9% during 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, Two Sigma Investments LP acquired a new position in XOS during the third quarter worth $331,000. 12.86% of the stock is owned by institutional investors.

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.