Insider Selling: XOS (NASDAQ:XOS) COO Sells $197,480.00 in Stock

Xos, Inc. (NASDAQ:XOS) COO Giordano Sordoni sold 49,370 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $4.00, for a total value of $197,480.00. Following the completion of the transaction, the chief operating officer directly owned 1,553,458 shares in the company, valued at $6,213,832. This trade represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

XOS Stock Performance

Shares of XOS opened at $3.60 on Thursday. The business’s fifty day simple moving average is $2.68 and its two-hundred day simple moving average is $2.40. 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, Inc. has a 12 month low of $1.60 and a 12 month high of $8.27. The company has a market cap of $51.19 million, a price-to-earnings ratio of -2.22 and a beta of 1.76.

XOS (NASDAQ:XOS) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.02). The business had revenue of $4.74 million during the quarter, compared to analysts’ expectations of $14.30 million. XOS had a negative return on equity of 80.31% and a negative net margin of 51.68%. Research analysts anticipate that Xos, Inc. will post -1.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On XOS

Institutional investors and hedge funds have recently modified their holdings of the company. Two Sigma Investments LP bought a new stake in shares of XOS in the third quarter worth $331,000. Geode Capital Management LLC lifted its holdings in XOS by 29.9% in 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 during the period. Algert Global LLC purchased a new position in XOS in the second quarter worth about $138,000. DRW Securities LLC bought a new stake in shares of XOS during the 4th quarter valued at about $33,000. Finally, Citadel Advisors LLC bought a new stake in shares of XOS during the 3rd quarter valued at about $27,000. 12.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on XOS shares. Wall Street Zen cut shares of XOS from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of XOS from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. Finally, Zacks Research lowered shares of XOS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

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.