Xos, Inc. (NASDAQ:XOS) Receives $6.95 Consensus Price Target from Brokerages

Shares of Xos, Inc. (NASDAQ:XOSGet Rating) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $6.95.

Separately, Northland Securities started coverage on XOS in a research note on Friday, June 3rd. They issued an “outperform” rating and a $5.00 price objective for the company.

XOS Trading Down 2.7 %

NASDAQ:XOS opened at $1.79 on Thursday. The firm’s fifty day moving average price is $2.26 and its two-hundred day moving average price is $2.48. XOS has a one year low of $1.70 and a one year high of $9.99.

XOS (NASDAQ:XOSGet Rating) last issued its earnings results on Thursday, May 5th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The business had revenue of $7.03 million during the quarter, compared to analysts’ expectations of $5.40 million. On average, sell-side analysts forecast that XOS will post -0.5 EPS for the current fiscal year.

Insider Activity

In other XOS news, CTO Robert Ferber sold 50,000 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $1.79, for a total transaction of $89,500.00. Following the completion of the sale, the chief technology officer now owns 377,971 shares of the company’s stock, valued at approximately $676,568.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 54.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On XOS

A number of institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. bought a new position in shares of XOS in the 1st quarter worth $31,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in XOS in the 2nd quarter worth about $36,000. Bank of America Corp DE bought a new position in XOS in the 1st quarter worth about $41,000. Index Fund Advisors Inc. bought a new stake in shares of XOS during the 2nd quarter valued at about $54,000. Finally, Rafferty Asset Management LLC bought a new stake in shares of XOS during the 4th quarter valued at about $70,000. 12.07% of the stock is currently owned by institutional investors.

XOS Company Profile

(Get Rating)

Xos, Inc, a mobility solutions company, manufactures and sells battery-electric commercial vehicles. It offers a range of services to facilitate the transition of fleets to electric vehicles, including charging infrastructure, vehicle maintenance, financing, and service. The company was founded in 2020 and is headquartered in Los Angeles, California.

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Analyst Recommendations for XOS (NASDAQ:XOS)

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