XOS (NASDAQ:XOS) Major Shareholder Emerald Green Trust Sells 119,960 Shares of Stock

Xos, Inc. (NASDAQ:XOS) major shareholder Emerald Green Trust sold 119,960 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $6.06, for a total transaction of $726,957.60. Following the completion of the transaction, the insider directly owned 1,441,269 shares of the company’s stock, valued at approximately $8,734,090.14. This represents a 7.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, June 4th, Emerald Green Trust sold 280,040 shares of XOS stock. The shares were sold at an average price of $5.24, for a total transaction of $1,467,409.60.

XOS Stock Performance

NASDAQ:XOS opened at $4.74 on Friday. The firm has a 50 day simple moving average of $2.11 and a 200-day simple moving average of $2.16. 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 firm has a market cap of $57.46 million, a PE ratio of -2.39 and a beta of 1.81. Xos, Inc. has a 1-year low of $1.60 and a 1-year high of $8.27.

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. XOS had a negative net margin of 39.13% and a negative return on equity of 86.90%. The business had revenue of $11.23 million during the quarter, compared to analyst estimates of $6.23 million. On average, equities analysts expect that Xos, Inc. will post -2.29 EPS for the current year.

Hedge Funds Weigh In On XOS

A number of hedge funds have recently made changes to their positions in XOS. Two Sigma Investments LP purchased a new stake in XOS during the third quarter worth approximately $331,000. Citadel Advisors LLC purchased a new stake in XOS during the third quarter worth approximately $27,000. 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 worth $129,000 after buying an additional 16,357 shares during the period. Finally, DRW Securities LLC purchased a new stake in XOS during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 12.86% of the company’s stock.

Analysts Set New Price Targets

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

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.