Zacks Research Downgrades XOS (NASDAQ:XOS) to Hold

XOS (NASDAQ:XOS) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other research analysts also recently issued reports on XOS. Wall Street Zen raised XOS to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings lowered XOS from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, XOS currently has a consensus rating of “Hold” and a consensus price target of $7.00.

XOS Price Performance

Shares of NASDAQ XOS opened at $2.63 on Tuesday. The stock has a market cap of $36.08 million, a P/E ratio of -1.33 and a beta of 1.76. The stock has a 50 day moving average of $2.82 and a two-hundred day moving average of $2.35. The company has a current ratio of 1.89, a quick ratio of 0.90 and a debt-to-equity ratio of 0.51. XOS has a twelve month low of $1.60 and a twelve month high of $8.27.

XOS (NASDAQ:XOS) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.29. The firm had revenue of $11.23 million during the quarter, compared to the consensus estimate of $6.22 million. XOS had a negative return on equity of 86.90% and a negative net margin of 39.13%. On average, research analysts forecast that XOS will post -2.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Emerald Green Trust sold 280,040 shares of the company’s 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 sale, the insider owned 1,161,229 shares in the company, valued at approximately $6,084,839.96. This represents a 19.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 412,272 shares of company stock worth $2,240,161. 20.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Citadel Advisors LLC bought a new position in XOS during the third quarter worth $27,000. Geode Capital Management LLC increased 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 purchasing an additional 16,357 shares during the last quarter. DRW Securities LLC bought a new stake in XOS during the fourth quarter valued at $33,000. Finally, Two Sigma Investments LP acquired a new stake in shares of 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.