XOS (NASDAQ:XOS) Lowered to “Hold” Rating by Zacks Research

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

Several other research firms have also issued reports on XOS. Weiss Ratings lowered XOS from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. Wall Street Zen upgraded shares of XOS to a “hold” rating in a research note on Sunday, July 12th. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.00.

XOS Stock Down 1.1%

Shares of XOS stock opened at $2.63 on Tuesday. 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’s 50-day moving average is $2.82 and its two-hundred day moving average is $2.35. XOS has a 1 year low of $1.60 and a 1 year high of $8.27. The stock has a market cap of $36.08 million, a price-to-earnings ratio of -1.33 and a beta of 1.76.

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

Insider Buying and Selling at XOS

In related news, major shareholder Emerald Green Trust sold 280,040 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider owned 1,161,229 shares in the company, valued at $6,084,839.96. This trade represents a 19.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 412,272 shares of company stock worth $2,240,161 over the last 90 days. 20.70% of the stock is owned by insiders.

Hedge Funds Weigh In On XOS

A number of institutional investors have recently bought and sold shares of the business. Two Sigma Investments LP acquired a new stake in XOS during the third quarter valued at $331,000. Citadel Advisors LLC acquired a new position in XOS in the 3rd quarter valued at $27,000. Geode Capital Management LLC grew its stake in XOS by 29.9% during 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. Finally, DRW Securities LLC acquired a new stake in shares of XOS in the 4th quarter worth $33,000. 12.86% of the stock is owned by hedge funds and other institutional investors.

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.