Wedbush Has Lowered Expectations for XOS (NASDAQ:XOS) Stock Price

XOS (NASDAQ:XOS) had its target price dropped by investment analysts at Wedbush from $8.00 to $6.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective suggests a potential upside of 69.01% from the company’s previous close.

XOS Price Performance

XOS stock opened at $3.55 on Friday. The firm has a market cap of $28.77 million, a PE ratio of -0.53 and a beta of 1.73. The stock’s fifty day moving average price is $3.56 and its two-hundred day moving average price is $3.69. XOS has a one year low of $2.73 and a one year high of $9.15.

XOS (NASDAQ:XOS) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.17). The firm had revenue of $5.88 million for the quarter, compared to analyst estimates of $10.17 million. XOS had a negative return on equity of 80.70% and a negative net margin of 71.59%. Sell-side analysts expect that XOS will post -5.37 earnings per share for the current fiscal year.

XOS Company Profile

Xos, Inc is an electric mobility company engaged in manufacturing electric trucks. The firm designs and develops fully electric battery mobility systems specifically for commercial fleets. The company was founded by Dakota Semler and Giordano Sordoni on July 29, 2020 and is headquartered in Los Angeles, CA.