XOS (NASDAQ:XOS) Stock Rating Upgraded by Northland Securities

XOS (NASDAQ:XOS) was upgraded by equities research analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a research report issued on Friday, Benzinga reports. The firm currently has a $0.75 price target on the stock. Northland Securities’ price objective indicates a potential upside of 123.81% from the stock’s current price.

XOS has been the subject of a number of other research reports. Wedbush restated an “outperform” rating and set a $4.00 price target on shares of XOS in a research note on Friday, August 11th. DA Davidson cut shares of XOS from a “buy” rating to a “neutral” rating and cut their price target for the stock from $1.50 to $1.00 in a research note on Monday, August 14th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2.05.

XOS Stock Up 30.9 %

XOS stock opened at $0.34 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.21 and a quick ratio of 1.60. XOS has a 52-week low of $0.21 and a 52-week high of $1.19. The company has a 50-day moving average of $0.31 and a two-hundred day moving average of $0.36. The stock has a market capitalization of $58.98 million, a price-to-earnings ratio of -0.73 and a beta of 1.72.

XOS (NASDAQ:XOS) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). XOS had a negative net margin of 235.33% and a negative return on equity of 98.81%. The firm had revenue of $4.75 million for the quarter, compared to the consensus estimate of $13.26 million. As a group, equities research analysts anticipate that XOS will post -0.45 EPS for the current year.

Hedge Funds Weigh In On XOS

A number of hedge funds and other institutional investors have recently made changes to their positions in XOS. Y Intercept Hong Kong Ltd bought a new stake in XOS in the 2nd quarter valued at $81,000. UBS Group AG increased its stake in XOS by 125.8% in the 3rd quarter. UBS Group AG now owns 65,069 shares of the company’s stock valued at $78,000 after buying an additional 36,254 shares during the last quarter. Jane Street Group LLC acquired a new stake in XOS in the 4th quarter valued at $57,000. JPMorgan Chase & Co. acquired a new position in shares of XOS during the 2nd quarter worth about $54,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of XOS by 735.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 240,246 shares of the company’s stock worth $52,000 after purchasing an additional 211,484 shares during the last quarter. 12.07% of the stock is owned by institutional investors.

XOS Company Profile

Xos, Inc designs, manufactures, and sells battery-electric commercial vehicles. It also 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.