XOS (NASDAQ:XOS) Shares Up 1.8% – Should You Buy?

Xos, Inc. (NASDAQ:XOS) shares shot up 1.8% during mid-day trading on Thursday . The stock traded as high as $1.75 and last traded at $1.70. 14,368 shares traded hands during trading, a decline of 60% from the average session volume of 36,138 shares. The stock had previously closed at $1.67.

Analysts Set New Price Targets

Several research firms have recently issued reports on XOS. Zacks Research downgraded XOS from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of XOS in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $7.00.

XOS Price Performance

The company has a current ratio of 2.11, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The firm has a market cap of $20.37 million, a price-to-earnings ratio of -0.60 and a beta of 1.74. The firm has a 50-day moving average of $2.00 and a two-hundred day moving average of $2.26.

XOS (NASDAQ:XOS) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.26). The business had revenue of $5.22 million for the quarter, compared to analyst estimates of $11.50 million. XOS had a negative return on equity of 103.90% and a negative net margin of 55.05%. As a group, sell-side analysts predict that Xos, Inc. will post -5.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On XOS

Several large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new position in XOS in the 3rd quarter valued at approximately $27,000. Geode Capital Management LLC raised its holdings in XOS by 29.9% in 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. DRW Securities LLC acquired a new position in XOS in the 4th quarter valued at approximately $33,000. Finally, Two Sigma Investments LP acquired a new position in XOS in the 3rd quarter valued at approximately $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.