XOS (NASDAQ:XOS) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of XOS (NASDAQ:XOS) from a hold rating to a sell rating in a report published on Saturday morning.

XOS has been the topic of several other research reports. Zacks Research lowered XOS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Weiss Ratings raised XOS from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, XOS has an average rating of “Reduce”.

XOS Price Performance

Shares of NASDAQ XOS opened at $2.09 on Friday. The firm has a market capitalization of $28.67 million, a P/E ratio of -1.29 and a beta of 1.76. The firm’s 50-day moving average price is $2.68 and its 200-day moving average price is $2.34. The company has a current ratio of 2.00, a quick ratio of 0.95 and a debt-to-equity ratio of 0.35. XOS has a 1-year low of $1.60 and a 1-year high of $8.27.

XOS (NASDAQ:XOS) last issued its earnings results on Thursday, August 13th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.02). XOS had a negative net margin of 51.68% and a negative return on equity of 80.31%. The firm had revenue of $4.74 million during the quarter, compared to analyst estimates of $14.30 million. Equities research analysts anticipate that XOS will post -2.08 earnings per share for the current fiscal year.

Insider Activity at XOS

In other news, major shareholder Emerald Green Trust sold 280,040 shares of the 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 completion of the sale, the insider owned 1,161,229 shares in the company, valued at $6,084,839.96. This represents 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. Insiders sold 412,272 shares of company stock valued at $2,240,161 over the last three months. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in XOS. Algert Global LLC bought a new stake in shares of XOS during the second quarter valued at about $138,000. DRW Securities LLC purchased a new position in XOS during the fourth quarter valued at approximately $33,000. Geode Capital Management LLC grew its stake in XOS by 29.9% during the fourth 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. Citadel Advisors LLC bought a new stake in XOS during the 3rd quarter worth approximately $27,000. Finally, Two Sigma Investments LP bought a new stake in XOS during the 3rd quarter worth approximately $331,000. Hedge funds and other institutional investors 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.