Xos, Inc. (NASDAQ:XOS) Short Interest Down 23.1% in August

Xos, Inc. (NASDAQ:XOS) was the target of a large drop in short interest in August. As of August 31st, there was short interest totaling 455,100 shares, a drop of 23.1% from the August 15th total of 591,600 shares. Currently, 13.5% of the shares of the stock are short sold. Based on an average daily volume of 427,200 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily volume of 427,200 shares, the days-to-cover ratio is presently 1.1 days. Currently, 13.5% of the shares of the stock are short sold.

Insider Transactions at XOS

In other news, Director Stuart N. Bernstein sold 14,347 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $3.07, for a total value of $44,045.29. Following the completion of the transaction, the director owned 98,158 shares in the company, valued at $301,345.06. This trade represents a 12.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Emerald Green Trust sold 41,894 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $3.02, for a total transaction of $126,519.88. Following the completion of the transaction, the insider owned 1,749,636 shares of the company’s stock, valued at $5,283,900.72. This represents a 2.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 231,665 shares of company stock valued at $633,880 in the last quarter. Insiders own 20.90% of the company’s stock.

XOS Price Performance

XOS opened at $2.81 on Friday. The company’s 50 day simple moving average is $3.02 and its 200 day simple moving average is $3.29. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.22. XOS has a 1 year low of $2.21 and a 1 year high of $9.15. The stock has a market capitalization of $24.42 million, a PE ratio of -0.48 and a beta of 1.61.

XOS (NASDAQ:XOS) last released its earnings results on Wednesday, August 13th. The company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.15. XOS had a negative net margin of 91.56% and a negative return on equity of 147.93%. The business had revenue of $18.39 million for the quarter, compared to analysts’ expectations of $13.09 million. XOS has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that XOS will post -5.37 EPS for the current year.

Analyst Ratings Changes

Separately, Wedbush upped their price objective on shares of XOS from $6.00 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, XOS has an average rating of “Moderate Buy” and a consensus target price of $9.00.

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.