Q3 2023 EPS Estimates for Xos, Inc. Boosted by Analyst (NASDAQ:XOS)

Xos, Inc. (NASDAQ:XOS – Get Rating) – Stock analysts at Northland Capmk upped their Q3 2023 earnings per share estimates for shares of XOS in a research report issued to clients and investors on Tuesday, May 16th. Northland Capmk analyst D. Schafer now anticipates that the company will earn ($0.12) per share for the quarter, up from their prior estimate of ($0.14). The consensus estimate for XOS’s current full-year earnings is ($0.45) per share. Northland Capmk also issued estimates for XOS’s Q4 2023 earnings at ($0.11) EPS and FY2023 earnings at ($0.51) EPS.

Several other research firms have also weighed in on XOS. Benchmark decreased their price target on XOS from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, March 30th. The Goldman Sachs Group decreased their price target on XOS from $2.40 to $0.50 and set a “neutral” rating on the stock in a report on Monday, April 3rd. DA Davidson decreased their price target on XOS from $2.50 to $1.50 and set a “buy” rating on the stock in a report on Thursday, March 30th. Finally, Northland Securities lowered XOS from an “outperform” rating to a “market perform” rating and set a $0.60 price target on the stock. in a report on Thursday, March 30th.

XOS Stock Down 5.5 %

NASDAQ XOS opened at $0.39 on Thursday. The stock has a 50 day moving average price of $0.53 and a 200-day moving average price of $0.72. XOS has a one year low of $0.37 and a one year high of $3.25. The company has a market capitalization of $65.63 million, a P/E ratio of -0.88 and a beta of 2.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.95 and a current ratio of 3.34.

Institutional Investors Weigh In On XOS

A number of institutional investors have recently added to or reduced their stakes in XOS. State Street Corp boosted its holdings in XOS by 568.2% in the second quarter. State Street Corp now owns 1,214,199 shares of the company’s stock worth $2,234,000 after acquiring an additional 1,032,492 shares in the last quarter. Northern Trust Corp boosted its holdings in XOS by 406.9% in the second quarter. Northern Trust Corp now owns 472,316 shares of the company’s stock worth $869,000 after acquiring an additional 379,139 shares in the last quarter. Jane Street Group LLC acquired a new stake in XOS in the fourth quarter worth about $57,000. Renaissance Technologies LLC acquired a new stake in XOS in the fourth quarter worth about $36,000. Finally, Rhumbline Advisers acquired a new stake in XOS in the second quarter worth about $119,000. Institutional investors own 12.07% of the company’s stock.

Insiders Place Their Bets

In other news, Director George N. Mattson purchased 100,000 shares of the business’s stock in a transaction dated Monday, April 10th. The shares were purchased at an average price of $0.62 per share, for a total transaction of $62,000.00. Following the completion of the purchase, the director now owns 836,039 shares in the company, valued at approximately $518,344.18. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other news, Director George N. Mattson purchased 60,066 shares of the business’s stock in a transaction dated Wednesday, April 5th. The shares were purchased at an average price of $0.60 per share, for a total transaction of $36,039.60. Following the completion of the purchase, the director now owns 690,066 shares in the company, valued at approximately $414,039.60. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director George N. Mattson acquired 100,000 shares of the company’s stock in a transaction that occurred on Monday, April 10th. The shares were bought at an average cost of $0.62 per share, for a total transaction of $62,000.00. Following the transaction, the director now owns 836,039 shares of the company’s stock, valued at $518,344.18. The disclosure for this purchase can be found here. Insiders have acquired a total of 295,366 shares of company stock worth $173,514 over the last quarter. Company insiders own 54.60% of the company’s stock.

About XOS

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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.